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This paper develops a dynamic evolutionary model in which agents make choices on the basis of relative performance criteria. We distinguish two classes of learned behavior: imitative dynamics and a new class of dynamics, "introspective dynamics." Under imitative dynamics, agents compare payoffs...
Persistent link: https://www.econbiz.de/10005787626
For games in which there is no evolutionarily stable strategy, it can be useful to look for neutrally stable ones. In extensive form games for instance there is typically no evolutionary stable strategy, while there may very well be a neutrally stable one. Such strategies can however still be...
Persistent link: https://www.econbiz.de/10011256467
The effect of taxpyers' competition at jurisdictions' local markets on the properties of the tax competition equilibrium is studied. The general equilibrium model is considered with mobile firms acting under monopolistic competition on local markets. It is shown that equilibrium tax rate tends...
Persistent link: https://www.econbiz.de/10011259733
This paper brings together two of the most important solution concepts of game theory �subgame-perfect Nash equilibrium of a non-cooperative game and the core of a cooperativegame. Our approach rests on two fundamental ideas: (1) Given an extensive game, the formationof a coalition leads to...
Persistent link: https://www.econbiz.de/10008692914
For games in which there is no evolutionarily stable strategy, it can be useful to look for neutrally stable ones. In extensive form games for instance there is typically no evolutionary stable strategy, while there may very well be a neutrally stable one. Such strategies can however still be...
Persistent link: https://www.econbiz.de/10008838650
Participatory approaches in natural resource management are increasingly being criticized for their tendency to neglect power relations and conflicts of interests. Negotiation approaches have been proposed as a strategy to overcome such shortcomings. Using the case of negotiations on...
Persistent link: https://www.econbiz.de/10005460396
Current historiography on the European decolonization processes has developed no general theory of these processes, but is rather a collection of case-based studies. Moreover, there is no consideration for counter-factual possibilities, including the analysis of those cases where independence...
Persistent link: https://www.econbiz.de/10005463732
It is argued that if an out-of-equilibrium player observing a deviation from a presumed strategically stable path of play believes that a player also observing the deviation is more likely to deviate than a player who does not observe the deviation then it is possible to justify, in some...
Persistent link: https://www.econbiz.de/10005094658
Fixed point theorems are the standard tool used to prove the existence of equilibria in mathematical economics. This paper shows how to prove a slight generalization of Brouwer's and Kakutani's fixed point theorems using the familiar techniques of drawing and shifting curves in the plane and is,...
Persistent link: https://www.econbiz.de/10005607526
In this paper we consider the location of the eigenvalues of the composite matrix ( -A S1 S2 ) ( Q1 At 0 ) ( Q2 0 At ) , where the matrices Si and Qi are assumed to be semi-positive definite. Two interesting observations, which are not or only partially mentioned in literature before, challenge...
Persistent link: https://www.econbiz.de/10011087121