Third Down with a Yard to Go: The Dixit-Skeath Conundrum on Equilibria in Competitive Games.

In strictly competitive games, equilibrium mixed strategies are invariant to changes in the ultimate prizes. Dixit & Skeath (1999) argue that this seems counter-intuitive. We show that this invariance is robust to dropping the independence axiom, but is removed if we drop the reduction axiom.

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Year of publication:	1999
Authors:	Grant, S. ; Kajii, A. ; Polak, B.
Institutions:	Research School of Pacific and Asian Studies, College of Asia and the Pacific
Subject:	GAME THEORY \| COMPETITION \| EXPECTATIONS

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Series:	Australian National University - Department of Economics.
Type of publication:	Book / Working Paper
Notes:	10 pages
Classification:	C72 - Noncooperative Games ; D81 - Criteria for Decision-Making under Risk and Uncertainty
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005630786