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Persistent link: https://www.econbiz.de/10010334998
game. We also show that the limit set of neutrally stable outcomes coincides with the set of neutrally stable outcomes for …
Persistent link: https://www.econbiz.de/10010334873
game. We also show that the limit set of neutrally stable outcomes coincides with the set of neutrally stable outcomes for …
Persistent link: https://www.econbiz.de/10010600198
We present attractiveness, a refinement criterion for evolutionary equilibria. Equilibria surviving this criterion are … equilibria are equivalent to others for certain evolutionary dynamics. For instance, each attractive evolutionarily stable …
Persistent link: https://www.econbiz.de/10010286754
We present attractiveness, a re…nement criterion for evolutionary equilibria. Equilibria surviving this criterion are … equilibria are equivalent to others for certain evolutionary dynamics. For instance, each attractive evolutionarily stable …
Persistent link: https://www.econbiz.de/10009386643
evolutionary game theory (EGT). We shed some light on the potential contribution of Veblen's theory of socioeconomic evolution to …This essay provides an approach to the analysis of the link between Thorstein Veblen's evolutionary approach and … used to formalize some of the basic evolutionary principles proposed by Veblen. The methodological imperatives laid down by …
Persistent link: https://www.econbiz.de/10008839503
of the individuals are based on the game theory, what also helps to understand the role of asymmetric information as a … specific market failure factor. In the present paper the Martin Shubik classical surviving game is analyzed and some statements … of Herbert Gintis concerning this game are critically appraised. The solution of Martin Shubik game in the original …
Persistent link: https://www.econbiz.de/10012057408
of the individuals are based on the game theory, what helps to understand also the role of asymmetric information as … specific market failure factor. In present paper the Martin Shubik classical surviving game is analyzed and some statements of … Herbert Gintis concerning this game are critically appraised. The solution of Martin Shubik game in the original geometrical …
Persistent link: https://www.econbiz.de/10010888413
Static or dynamic equilibrium notions used in game theory may be justified along two perspectives. From an epistemic … game structure and of their rationality. If a rationalizable equilibrium or a correlated equilibrium can easily be …
Persistent link: https://www.econbiz.de/10011187216
Societies provide institutions that are costly to use, but able to enforce long-run relationships. We study the optimal decision problem of using self-governance for risk sharing or governance through enforcement provided by these institutions. Third-party enforcement is modelled as a costly...
Persistent link: https://www.econbiz.de/10009635888