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In response to Wooders (2001), I review the contributions of Engl and Scotchmer (1996) regarding monotonicity and the hedonic core, show how our contributions diverge from those previously in the literature, and highlight the importance of our assumptions by giving counterexamples, particularly...
Persistent link: https://www.econbiz.de/10014094558
We will call a game a reachable (pure strategy) equilibria game if starting from any strategy by any player, by a sequence of best-response moves we are able to reach a (pure strategy) equilibrium. We give a characterization of all finite strategy space duopolies with reachable equilibria. We...
Persistent link: https://www.econbiz.de/10014070814
In response to Wooders (2001), I review the contributions of Engl and Scotchmer (1996) regarding monotonicity and the hedonic core, show how our contributions diverge from those previously in the literature, and highlight the importance of our assumptions by giving counterexamples, particularly...
Persistent link: https://www.econbiz.de/10014089180
We use quantifiers and selection functions to represent simultaneous move games. Quantifiers and selection functions are examples of higher-order functions. A higher order function is a function whose domain is itself a set of functions. Thus, quantifiers and selection func- tions allow players...
Persistent link: https://www.econbiz.de/10011490488
Persistent link: https://www.econbiz.de/10015359129
Mixed Nash equilibria are a cornerstone of game theory, but their empirical relevance has always been controversial. We study in the laboratory two games whose unique NE is in completely mixed strategies; other treatments include the matching protocol (pairwise random vs population...
Persistent link: https://www.econbiz.de/10012114951
Persistent link: https://www.econbiz.de/10012583623
We consider decision problems under complete ignorance and extend the minimax regret principle to situations where … also extend the framework to encompass the possibility of less than the extreme pessimism that characterizes the minimax …
Persistent link: https://www.econbiz.de/10012655356
Persistent link: https://www.econbiz.de/10012498141
This is a survey and discussion of work covering both formal game theory and experimental gaming prior to 1991. It is a useful preliminary introduction to the considerable change and emphasis which has taken place since that time where dynamics, learning, and local optimization have challenged...
Persistent link: https://www.econbiz.de/10014024483