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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
The rate of deployment and adoption issues of new network technologies, IPv6 in particular, have recently been hotly debated in the research community. However, the question of how protocols migrate, especially the dynamics of migration, to new paradigms is still largely open. In this paper, we...
Persistent link: https://www.econbiz.de/10010307261
Dynamic decision-making without commitment is usually modelled as a game between the current and future selves of the decision maker. It has been observed that if the time-horizon is infinite, then such games may have multiple subgame-perfect equilibrium solutions. We provide a sufficient...
Persistent link: https://www.econbiz.de/10010334653
During the last three decades the ascent of behavioral economics clearly helped to bring down artificial disciplinary boundaries between psychology and economics. Noting that behavioral economics seems still under the spell of the rational choice tradition and, indirectly, of behaviorism we...
Persistent link: https://www.econbiz.de/10010266656
Saez-Marti and Weibull [4] investigate the consequences of letting some agents play a myopic best reply to the myopic best reply in Young's [8] bargaining model. This is how they introduce cleverness of players. We analyze such clever agents in general finite two-player games. We show that...
Persistent link: https://www.econbiz.de/10010281177
We present two new notions of evolutionary stability, the trulyevolutionarily stable state (TESS) and the generalized evolutionarilystable equilibrium (GESE). The GESE generalizes the evolutionar-ily stable equilibrium (ESE) of Joosten [1996]. An ESE attracts allnearby trajectories...
Persistent link: https://www.econbiz.de/10009022153
Agents interacting on a body of water choose between technologiesto catch …sh. One is harmless to the resource, as it allows full recovery;the other yields high immediate catches, but low(er) future catches.Strategic interaction in one ‘objective’resource game may induceseveral ‘subjective’...
Persistent link: https://www.econbiz.de/10009138584
We introduce a stochastic game in which transition probabilitiesdepend on the history of the play, i.e., the players’past action choices.To solve this new type of game under the limiting average reward crite-rion, we determine the set of jointly-convergent pure-strategy rewardswhich can be...
Persistent link: https://www.econbiz.de/10009138613
A well—known result from the theory of finitely repeated games statesthat if the stage game has a unique equilibrium, then there is a uniquesubgame perfect equilibrium in the finitely repeated game in which theequilibrium of the stage game is being played in every period. Here Ishow that this...
Persistent link: https://www.econbiz.de/10009248985
It is well known that the rock-paper-scissors game has no pure saddle point. Weshow that this holds more generally: A symmetric two-player zero-sum game hasa pure saddle point if and only if it is not a generalized rock-paper-scissors game.Moreover, we show that every finite symmetric...
Persistent link: https://www.econbiz.de/10009248997