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stronger, and the Ruler's incentive to promote such symmetry will be greater. The theory explains the power structure … differences in the power structure of society: (1) the Ruler enjoyed weaker absolute power in Europe; (2) the People were more on … par with the Elites in China in terms of power and rights. Based on these narratives, we build a game-theoretical model …
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This paper surveys the small, yet growing, literature that uses game theory for economic history analysis. It … elaborates on the promise and challenge of applying game theory to economic history and presents the approaches taken in … conducting such an application. Most of the essay, however, is devoted to studies in economic history that use game theory as …
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We include initial holdings in the jungle economy of Piccione and Rubinstein (Economic Journal, 2007) in which the unique equilibrium satisfies lexicographic welfare maximization. When we relax assumptions on consumption sets and preferences slightly, equilibria other than lexicographic welfare...
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