The ways of decision making within the EU have significantly changed in the last decades: the rule of unanimity has been more and more substituted by majority voting in order to speed up decision-making processes in a Union of 27 heterogeneous member states. A third possibility is now offered by...

This paper provides deterministic approximation results for stochastic processes that arise when finite populations recurrently play finite games. The deterministic approximation is defined in continuous time as a system of ordinary differential equations of the type studied in evolutionary game...

We develop a simple model to study the coevolution of interaction structures and action choices in Prisoners' Dilemma games. Agents are boundedly rational and choose both actions and interaction partners via payoff-based imitation. The dynamics of imitation and exclusion yields polymorphic...

This volume contains eight papers written by Adam Brandenburger and his co-authors over a period of 25 years. These papers are part of a program to reconstruct game theory in order to make how players reason about a game a central feature of the theory. The program — now called epistemic game...

The ways of decision making within the EU have significantly changed in the last decades: the rule of unanimity has been more and more substituted by majority voting in order to speed up decision-making processes in a Union of 27 heterogeneous member states. A third possibility is now offered by...

It is well-known that subgame-perfect Nash equilibrium does not eliminate incentives for joint-deviations or renegotiations. This paper presents a systematic framework for studying non-cooperative games with group incentives, and offers a notion of equilibrium that refines the Nash theory in a...

Until the beginning of 1950s, the economic theory in general, and the microeconomic theory in particular, relied totally on the deterministic character of economic phenomena. Nowadays microeconomic models are built on uncertain elements in a competitive environment that is affected by risk and...

In the paper a game-theoretical model is set up to describe the conflict situation in which the members of a marketing cooperative may take advantage of an external market price, higher than that offered by the cooperative. Under appropriate conditions on the penalty strategy of the cooperative,...