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Using truels, or three-person duels, as an example, we show that how players perceive a multiple-round game will end can make a big difference in whether it ends non-cooperatively (producing a "bang") or just peters out (producing a "whimper"): 1. If the players view the number of rounds as...
Persistent link: https://www.econbiz.de/10005611738
Two or more players are required to divide up a set of indivisible items that they can rank from best to worst. They may, as well, be able to indicate preferences over subsets, or packages, of items. The main criteria used to assess the fairness of a division are efficiency (Pareto-optimality)...
Persistent link: https://www.econbiz.de/10005826761
This paper analyzes criteria of fair division of a set of indivisible items among people whose revealed preferences are limited to rankings of the items and for whom no side payments are allowed. The criteria include refinements of Pareto optimality and envy-freeness as well as...
Persistent link: https://www.econbiz.de/10005351010
In the first competitive election for President of the Social Choice and Welfare Society, the (official) approval-voting winner differed from the (hypothetical) Borda count winner, who was also the Condorcet winner. But because the election was essentially a toss-up, it is impossible to say who...
Persistent link: https://www.econbiz.de/10005168638
Ordinally single-peaked preferences are distinguished from cardinally singlepeaked preferences, in which all players have a similar perception of distances in some one-dimensional ordering. While ordinal single-peakedness can lead to disconnected coalitions that have a "hole" in the ordering,...
Persistent link: https://www.econbiz.de/10005168642
It is well-known that non-cooperative and cooperative game theory may yield different solutions to games. These differences are particularly dramatic in the case of truels, or three-person duels, in which the players may fire sequentially or simultaneously, and the games may be one-round or...
Persistent link: https://www.econbiz.de/10005248343
The minimal number of parallel cuts required to divide a cake into n pieces is n-1. A new 3-person procedure, requiring 2 parallel cuts, is given that produces an envy- free division, whereby each person thinks he or she receives at least a tied- for- largest piece. An extension of this...
Persistent link: https://www.econbiz.de/10005264300
Persistent link: https://www.econbiz.de/10005375688
In the last twenty years or so years, there has been a surge of interest in modeling both national security and international political economy issues using the tools of game theory. In this brief note, I will not cite this now extensive literature but instead (1) outline four major theoretical...
Persistent link: https://www.econbiz.de/10005459147
We analyze a simple sequential algorithm (SA) for allocating indivisible items that are strictly ranked by n ≥ 2 players. It yields at least one Pareto-optimal allocation which, when n = 2, is envy-free unless no envy-free allocation exists. However, an SA allocation may not be maximin or...
Persistent link: https://www.econbiz.de/10011111579