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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
When there is incomplete information on the source of power in a contest, the contestants may divide their lobbying efforts between the potential centers of power, only one of which determines the contests’ winning probabilities. Our analysis focuses on the effect of ambiguity regarding the...
Persistent link: https://www.econbiz.de/10005708975
This paper introduces games of incomplete information in which the number, as well as the identity, of the participating players is determined by chance. The participation of certian players may not be independent of the participation of others, and hence the very fact that a particular player...
Persistent link: https://www.econbiz.de/10005766796
A formula is presented for computing the completely mixed equilibrium payoffs in finite two-person games.
Persistent link: https://www.econbiz.de/10008553038
Different kinds of networks, such as transportation, communication, computer, and supply networks, are susceptible to similar kinds of inefficiencies. These arise when congestion externalities make each user-s cost depend on the other users, choices of routes. If each user chooses the least...
Persistent link: https://www.econbiz.de/10008553040
When 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 question of strategic voting arises. That is, depending on the voting rule used to determine the collective decision,...
Persistent link: https://www.econbiz.de/10008553043
Every finite noncooperative game can be presented as a weighted network congestion game, and also as a network congestion game with player-specific costs. In the first presentation, different players may contribute differently to congestion, and in the second, they are differently (negatively)...
Persistent link: https://www.econbiz.de/10008526367
Players in a congestion game may differ from one another in their intrinsic preferences (e.g., the benefit they get from using a specific resource), their contribution to congestion, or both. In many cases of interest, intrinsic preferences and the negative effect of congestion are (additively...
Persistent link: https://www.econbiz.de/10008483503
Persistent link: https://www.econbiz.de/10005153368
A sequential-move version of a given normal-form game is an extensive-form game of perfect information in which each player chooses his action after observing the actions of all players who precede him and the payoffs are determined according to the payoff functions in . A normal-form game is...
Persistent link: https://www.econbiz.de/10005598430