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Evolutionary stability of prospect theory preferences
Rieger, Marc Oliver - 2009
We demonstrate that in simple 2 X 2 games (cumulative) prospect theory preferences can be evolutionarily stable, i.e. a … population of players with prospect theory preferences can not be invaded by more rational players. This holds also if …
Persistent link: https://www.econbiz.de/10010272561
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Games and prospects
Rieger, Marc Oliver (contributor) - 2007
We study how the framework of classical game theory changes when the preferences of the players are described by … Prospect Theory instead of Expected Utility Theory. Specifically, we study the influence of framing effect and probability … the validity of Prospect Theory as a descriptive model in human behavior …
Persistent link: https://www.econbiz.de/10003550861
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Evolutionary stability of first price auctions
Louge, Fernando; Riedel, Frank - 2010
. -- Auction theory ; Evolutionary stability …
Persistent link: https://www.econbiz.de/10008736561
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Refined best reply correspondence and dynamics
Balkenborg, Dieter; Hofbauer, Josef; Kuzmics, Christoph - 2011
correspondence. -- Evolutionary game theory ; best response dynamics ; CURB sets ; persistent retracts ; asymptotic stability ; Nash …
Persistent link: https://www.econbiz.de/10009231404
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Unbeatable imitation
Duersch, Peter; Oechssler, Joerg; Schipper, Burkhard - 2012
We show that for many classes of symmetric two-player games, the simple decision rule 'imitate-if-better' can hardly be beaten by any strategy. We provide necessary and sufficient conditions for imitation to be unbeatable in the sense that there is no strategy that can exploit imitation as a...
Persistent link: https://www.econbiz.de/10009544162
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Stochastic stability in finite extensive-form games of perfect information
Xu, Zibo - 2013
-backward-induction equilibria, and show how much extra payoff is needed to turn an equilibrium stochastically stable. -- evolutionary game theory …
Persistent link: https://www.econbiz.de/10009727120
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Learning to coordinate : co-evolution and correlated equilibrium
Lee-Penagos, Alejandro - 2016
, in theory, lead to a Correlated Equilibrium that can improve the overall payoffs of the agents. Here we explore whether …
Persistent link: https://www.econbiz.de/10011515836
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But some neutrally stable strategies are more neutrally stable than others
Veelen, Matthijs van - 2010
For games in which there is no evolutionarily stable strategy, it can be useful to look for neutrally stable ones. In extensive form games for instance there is typically no evolutionary stable strategy, while there may very well be a neutrally stable one. Such strategies can however still be...
Persistent link: https://www.econbiz.de/10011380138
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Supply chain dynamics with assortative matching
Chai, Caichun; Francis, Eilin; Xiao, Tiaojun - 2016
This paper studies the evolutionarily stable strategies of one-manufacturer and one-retailer supply chains. Each manufacturer and retailer chooses between two pure strategies of management: shareholder-oriented or stakeholder-oriented. Based on its management strategy, the firm decides its...
Persistent link: https://www.econbiz.de/10011561540
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Evolutionary stability in asymmetric oligopoly : a non-Walrasian result
Leininger, Wolfgang; Moghadam, Hamed M. - 2014
It is a very well-known result that in terms of evolutionary stability the long-run outcome of a Cournot oligopoly market with finitely many firms approaches the perfectly competitive Walrasian market outcome (Vega-Redondo, 1997). However, in this paper we show that an asymmetric structure in...
Persistent link: https://www.econbiz.de/10010399434