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Most existing results of evolutionary games restrict only to the Nash equilibrium. This paper introduces the analogue of evolutionarily stable strategy (ESS) for correlated equilibria. We introduce a new notion of evolutionarily stable correlation (ESC) and prove that it generalizes ESS. We also...
Persistent link: https://ebvufind01.dmz1.zbw.eu/10005702729
When individual preferences can express relative intensities, the scope for social decision mechanisms is enlarged. We show that ethical welfare operations then arise in a uniform, constitutional manner, in both finite and infinite contexts.We focus on quaternary preferences as representatives...
Persistent link: https://ebvufind01.dmz1.zbw.eu/10012861196
We prove that the Strong Axiom of Revealed Preference tests the existence of a strictly quasiconcave (in fact, continuous, generically C(infinity), strictly concave, and strictly monotone) utility function generating finitely many demand observations. This sharpens earlier results of Afriat,...
Persistent link: https://ebvufind01.dmz1.zbw.eu/10005593374