Luenberger (1992, 1994) introduced a function he terms the benefit function, that converts preferences into a numerical function and has some cardinal meaning. In this paper, we show that the benefit function enjoys many interesting properties in a game theory context. We point out that the...

We extend the analysis of van Damme (1987, Section 7.5) of the famous smoothing demand in Nash (1953) as an argument for the singular stability of the symmetric Nash bargaining solution among all Pareto efficient equilibria of the Nash demand game. Van Damme's analysis provides a clean...

This paper examines the conception of individuals as being of certain types in Harsanyi'stransformation of games of incomplete information into games of complete information. Itargues that while the conception of the individual in games of complete information offerspotential advances over the...

This paper offers a resolution to an extensively studied question in theoretical economics: which measure spaces are suitable for modeling many economic agents? We propose the condition of 'nowhere equivalence' to characterize those measure spaces that can be effectively used to model the space...

This paper introduces the class of 2 × 2 × 2 trimatrix games with identical anonymous best-replies. For this class a complete classification on the basis of the Nash equilibrium set is provided.

In this paper, we reconsider the concept of Berge equilibrium. In a recent work, Colman et al. [(2011) J. Math. Psych. 55, 166–175] proposed a correspondence for two-player games between Berge and Nash equilibria by permutation of the utility functions. We define here more general...

In this paper, we investigate the existence of Berge–Zhukovskii equilibrium in general normal form games. We characterize its existence via the existence of a symmetric Nash equilibrium of some n-person subgame derived of the initial game. The significance of the obtained results is...

If an aggregative game satisfies the generalized Hahn conditions, then there exists a unique Nash equilibrium which may not be interior and is globally asymptotically stable under two alternative continuous adjustment processes with non-negativity constraints.

We formulate an overlapping generations model on optimal emissions with continuous age structure. We compare the noncooperative solution to the cooperative one and obtain fundamental differences in the optimal strategies. Also including an altruistic motive does not avoid the problem of the...

We present a multistage stochastic procedure that produces a fair allocation of a cake among n-person. In each step players observe the collection of the random offers (x1, …, xn), where x1 + ⋯ + xn = 1. As the proposal emerged players have to make a decision to accept it or reject it. The...