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attitudes towards uncertainty and are ignorant to relevant aspects of the environment. Players in strategic games face Knightian … strategic advantage in submodular (resp. supermodular) games with aggregate externalities. Moreover, this evolutionary stable … preference leads to Walrasian behavior in those classes of games. …
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. -- games ; decisions ; probability ; elicitation …The theory of games against nature relies on complete preferences among all conceivable acts (case 1). Aumann and Drèze …
Persistent link: https://www.econbiz.de/10009506406
pessimistic attitudes towards uncertainty and are ignorant to relevant aspects of the environment. Players in strategic games face …. supermodular) games with aggregate externalities. Moreover, this evolutionary stable preference leads to Walrasian behavior in … these classes of games. …
Persistent link: https://www.econbiz.de/10012101422
Two recent articles, Legros & Matthews (1993) and Vislie (1994), show that in a non-cooperative production game with stricly complementary (non-observable) inputs, interpretd as effort levels, there exists a linear budget-balancing sharing rule that implements the efficient effort vector in Nash...
Persistent link: https://www.econbiz.de/10005672044
whether this equivalence carries over in a particular context of imperfect competition, strategic market games the Shapley …
Persistent link: https://www.econbiz.de/10005779547
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Based on an experiment in the lab, we classify behavior in one-shot normal-form games along three important dimensions …
Persistent link: https://www.econbiz.de/10004982314
the probability simplex, i.e. ambiguity is location invariant. This unifies and generalises numerous influential … definitions of ambiguity in the literature. Location invariance is applied to normal form games where players perceive strategic … ambiguity. The set of translations of a given set of priors is shown to be isomorphic to the probability simplex. Thus …
Persistent link: https://www.econbiz.de/10015124956