Nash equilibrium. Success and failure of democracy are interpreted as different equilibria of a dynamic political game with …

equilibrium for the whole duration of the game. We design a stable Shapley value as a cooperative solution, which is time …

We characterize the structure of Nash equilibria for a certain class of asset market games. In equilibrium, different …. In equilibrium, an asset’s return is inversely related to the elasticity of its supply. The larger an investor, the more …

demands placed on the agents. These results provide an interpretation of Nash equilibrium that relies on large numbers … arguments and weak requirements on payoff observations rather than on strong equilibrium knowledge assumptions. …

This book presents a systematic approach to problems in economic equilibrium based on fixed-point arguments and … general equilibrium theory and non-co-operative game theory. The arguments also contain distinguishable developments of the …

profitable deviations are allowed. We show that games with a strict Nash equilibrium have infinite vNM stable sets, and games … without a strict Nash equilibrium have just a unique vNM stable set. A characterization of the strategy profiles that belong … to the vNM stable sets is provided. We also show that in games without a strict Nash equilibrium the vNM stable set …

can say that the phenomenon where each player responds best to the other is Nash Equilibrium. It is a solution concept of … a non-cooperative game comprising of two or more players, in which each player is assumed to know the equilibrium … strategies of the other players, and no player has anything to gain by only changing their own strategy. Nash equilibrium is best …

If a game has a unique Nash equilibrium, then this equilibrium is arguably the solution of the game from the refinement … equilibrium are eliminated by the replicator dynamics and the best-reply dynamics. …