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No matter how many times a prisoner’s-dilemma-like game is repeated, the only equilibrium outcome is the one in which all players defect in all periods. However, if cooperation among the players changes their perception of the game by making defection increasingly less attractive, then it is...
Persistent link: https://www.econbiz.de/10008553032
In a correlated equilibrium, the players’ choice of actions is directed by correlated random messages received from an outside source, or mechanism. These messages allow for more equilibrium outcomes than without any messages (pure-strategy equilibrium) or with statistically independent ones...
Persistent link: https://www.econbiz.de/10010993372
Equilibrium flow in a physical network with a large number of users (e.g., transportation, communication, and computer networks) may not be unique if the costs of the network elements are not the same for all uses. Such differences among users may arise if they are not equally affected by...
Persistent link: https://www.econbiz.de/10010861923
A group of people with identical preferences but different abilities in identifying the best alternative (e.g., a jury) takes a vote to decide between two alternatives. The first best voting rule is a weighted voting rule that takes into account the different individual competences, and is...
Persistent link: https://www.econbiz.de/10010861930
In a number of large, important families of finite games, not only do pure-strategy Nash equilibria always exist but they are also reachable from any initial strategy profile by some sequence of myopic single-player moves to a better or best-response strategy. This weak acyclicity property is...
Persistent link: https://www.econbiz.de/10010942384
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A formula is presented for computing the equilibrium payoffs in a generic finite two-person game when the support of the equilibrium is known.
Persistent link: https://www.econbiz.de/10005081033
Persistent link: https://www.econbiz.de/10005153368
Weighted network congestion games are a natural model for interactions involving finitely many non-identical users of network resources, such as road segments or communication links. However, in spite of their special form, these games are not fundamentally special: every finite game can be...
Persistent link: https://www.econbiz.de/10010728067
Static stability of equilibrium in strategic games differs from dynamic stability in not being linked to any particular dynamical system. In other words, it does not make any assumptions about off-equilibrium behavior. Examples of static notions of stability include evolutionarily stable...
Persistent link: https://www.econbiz.de/10008626031