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Assume that players strictly rank each other as coalition partners. We propose a procedure whereby they "fall back" on their preferences, yielding internally compatible, or coherent, majority coalition(s), which we call fallback coalitions. If there is more than one fallback coalition, the...
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Assume that players strictly rank each other as coalition partners. We propose a procedure whereby they “fall back” on their preferences, yielding internally compatible, or coherent, majority coalition(s), which we call fallback coalitions. If there is more than one fallback coalition, the...
Persistent link: https://www.econbiz.de/10014205381
We show that a cooperative outcome—one that is at least next-best for the players—is not a Nash equilibrium (NE) in 19 of the 57 2 x 2 strict ordinal conflict games (33%), including Prisoners' Dilemma and Chicken. Auspiciously, in 16 of these games (84%), cooperative outcomes are nonmyopic...
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In the much-studied Centipede Game, which resembles the Iterated Prisoners' Dilemma, two players successively choose between (1) cooperating, by continuing play, or (2) defecting and terminating play. The subgame-perfect Nash equilibrium implies that play terminates on the first move, even...
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We show that a cooperative outcome — one that is at least next-best for the players — is not a Nash equilibrium (NE) in 19 of the 57 2 x 2 strict ordinal conflict games (33%), including Prisoners’ Dilemma and Chicken. Auspiciously, in 16 of these games (84%), cooperative outcomes are...
Persistent link: https://www.econbiz.de/10014108979