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We analyze the strategic allocation of resources across two contests as in the canonical Colonel Blotto game. In the games we study, two players simultaneously allocate their forces across two fields of battle. The larger force on each battlefield wins that battle, and the payoff to a player is...
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Games in which players aim to guess a fraction or multiple p of the average guess are known as guessing games or (p-)beauty contests. In this note, we derive a full characterization of the set of rationalizable strategies and the set of pure strategy Nash equilibria for such games as a function...
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In a Nash equilibrium, players' rationality is mutual knowledge. However, both intuition and experimental evidence … suggest that players do not know for sure the rationality of opponents. This paper proposes a new equilibrium concept … equilibrium, players do not necessarily know the rationality of opponents, but they view rationality as infinitely more likely …
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In this paper, we investigate the condition under which players of an adaptive learning model, including the one of stochastic fictitious play learning, learn to follow a logit quantal response equilibrium corresponding to a strict Nash equilibrium, the one which approaches the Nash equilibrium...
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It is found that the “Theory of Moves” is adequate in a Cold War scenario, with functionally equal participants, such …
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Despite their importance, games with incomplete information and dependent types are poorly understood; only special cases have been considered and a general approach is not yet available. In this paper, we propose a new condition (named richness) for correlation of types in (asymmetric) Bayesian...
Persistent link: https://www.econbiz.de/10009660088