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Persistent link: https://www.econbiz.de/10010187165
This paper examines zero-sum games that are based on a cyclic preference relation defined over undistinguished actions. For each of these games, the set of Nash equilibria is characterized. When the number of actions is odd, a unique Nash equilibrium is always obtained. On the other hand, in the...
Persistent link: https://www.econbiz.de/10010681745
The present work characterizes the unique Nash equilibrium for games that are based on a cyclic preference relation. In the Nash equilibrium of these games, each player randomizes between three specific actions. In particular, an alternative way of deriving the unique Nash equilibrium of the...
Persistent link: https://www.econbiz.de/10010576437