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The geometry of Nash equilibria and correlated equilibria and a generalization of zero-sum games

Viossat, Yannick - 2006

A pure strategy is coherent if it is played with positive probability in at least one correlated equilibrium. A game is pre-tight if in every correlated equilibrium, all incentives constraints for non deviating to a coherent strategy are tight. We show that there exists a Nash equilibrium in the...

Persistent link: https://www.econbiz.de/10010281421

Learning, hypothesis testing, and nash equilibrium

Foster, Dean P.; Young, H. Peyton - 2002

Although there exist learning processes for which the empirical distribution of play comes close to Nash equilibrium it …

Persistent link: https://www.econbiz.de/10010293493

An experiment on learning with limited information: Nonconvergence, experimentation cascades, and the advantage of being slow

Friedman, Eric; Shor, Mikhael; Shenker, Scott; Sopher, Barry - 2000

We present the results of an experiment on learning in a continuous-time low-information setting. For a Cournot …

Persistent link: https://www.econbiz.de/10010318349

Modeling multicriteria group decision making as games from enhanced pairwise comparisons

Leoneti, Alexandre Bevilacqua; Gomes, Luiz Flávio … - In: Operations Research Perspectives 8 (2021), pp. 1-7

This research aimed to replace the pairwise comparison function used in Leoneti [2016] with a new function inspired on the exponential model of prospect theory and to perform a comparative analysis to verify the hypothesis that a better performance of the utility function would be possible from...

Persistent link: https://www.econbiz.de/10012662842

Learning foundation for the cursed equilibrium

Miettinen, Topi - 2008

Recent literature has questioned the existence of a learning foundation for the partially cursed equilibrium. This …

Persistent link: https://www.econbiz.de/10010266678

Testing the TASP: An experimental investigation of learning in games with unstable equilibria

Cason, Timothy N.; Friedman, Daniel; Hopkins, Ed - 2009

We report experiments designed to test between Nash equilibria that are stable and unstable under learning. The 'TASP … equilibrium under fictitious play like learning processes. We use two 4 x 4 games each with a unique mixed Nash equilibrium; one … is stable and one is unstable under learning. Both games are versions of Rock-Paper-Scissors with the addition of a …

Persistent link: https://www.econbiz.de/10010288137

Strategic pricing of financial options

Bieta, Volker; Broll, Udo; Milde, Hellmuth; Siebel, Wilfried - 2009

The mainstream model of option pricing is based on an exogenously given process of price movements. The implication of this assumption is that price movements are not affected by actions of market participants. However, if we assume that there are indeed impacts on the price movements it no...

Persistent link: https://www.econbiz.de/10010301361

Do people make decisions under risk based on ignorance?: an empirical test of the priority heuristic against cumulative prospect theory

Glöckner, Andreas; Betsch, Tilmann - 2008

Brandstätter, Gigerenzer and Hertwig (2006) put forward the priority heuristic (PH) as a fast and frugal heuristic for decisions under risk. According to the PH, individuals do not make trade-offs between gains and probabilities, as proposed by expected utility models such as cumulative...

Persistent link: https://www.econbiz.de/10010264834

Relating the two dimensions of risk attitudes: an experimental analysis

Qiu, Jianying; Steiger, Eva-Maria - 2009

towards risk, what is the relation between them? We ran a controlled laboratory experiment to answer this question. Our …

Persistent link: https://www.econbiz.de/10010266643

Understanding the two components of risk attitudes: An experimental analysis

Qiu, Jianying; Steiger, Eva-Maria - 2009

Economics and management science share the tradition of ordering risk aversion by fitting the best expected utility (EU) model with a certain utility function to individual data, and then using the utility curvature for each individual as the sole index of risk attitude. (Cumulative) Prospect...

Persistent link: https://www.econbiz.de/10010267127