Showing 1 - 10 of 349
Traditional game theory studies strategic interactions in which the agents make rational decisions. Evolutionary game theory differs in two key respects: the focus is on large populations of individuals who interact at random rather than on small numbers of players; and individuals are assumed...
Persistent link: https://www.econbiz.de/10014025453
I study the evolutionary stability of 'mildly responsive' behavioural rules in a bargaining game. Individuals in a population (that may be finite or be described by individuals distributed uniformly over a continuum of fixed mass) bargain with all other individuals in a pair-wise manner over a...
Persistent link: https://www.econbiz.de/10012911403
The bargaining model with stochastic order of proposing players is properly embedded in continuous time and it is strategically equivalent to the alternating offers model. For all parameter values, the pair of equilibrium proposals corresponds to the Nash bargaining solution of a modified...
Persistent link: https://www.econbiz.de/10010325478
The Nash bargaining solution of a modified bargaining problem in the contract space yields the pair of stationary subgame perfect equilibrium proposals in the alternating offers model, also for positive time between proposals. As time vanishes, convergence to the Nash bargaining solution is...
Persistent link: https://www.econbiz.de/10010325509
We study a bargaining model with a disagreement game between offers and counteroffers. In order to characterize the set of its subgame perfect equilibrium payoffs, we provide a recursive technique that relies on the Pareto frontier of equilibrium payoffs. When players have different time...
Persistent link: https://www.econbiz.de/10010325535
We introduce a form of pre-play communication that we call preopening. During the preopening, players announce their tentative actions to be played in the underlying game. Announcements are made using a posting system which is subject to stochastic failures. Posted actions are publicly...
Persistent link: https://www.econbiz.de/10010326012
We study a bargaining model with a disagreement game between offers and counteroffers. In order to characterize the set of its subgame perfect equilibrium payoffs, we provide a recursive technique that relies on the Pareto frontier of equilibrium payoffs. When players have different time...
Persistent link: https://www.econbiz.de/10011372980
We introduce a form of pre-play communication that we call preopening. During the preopening, players announce their tentative actions to be played in the underlying game. Announcements are made using a posting system which is subject to stochastic failures. Posted actions are publicly...
Persistent link: https://www.econbiz.de/10011380033
The Nash bargaining solution of a modified bargaining problem in the contract space yields the pair of stationary subgame perfect equilibrium proposals in the alternating offers model, also for positive time between proposals. As time vanishes, convergence to the Nash bargaining solution is...
Persistent link: https://www.econbiz.de/10011343949
The bargaining model with stochastic order of proposing players is properly embedded in continuous time and it is strategically equivalent to the alternating offers model. For all parameter values, the pair of equilibrium proposals corresponds to the Nash bargaining solution of a modified...
Persistent link: https://www.econbiz.de/10011343950