No abstract.

The theory of games (or game theory) is a mathematical theory that deals with the general features of competitive situations. It involves strategic thinking, and studies the way people interact while making economic policies, contesting elections and other such decisions. There are various types...

We study how the framework of classical game theory changes when the preferences of the players are described by Prospect Theory instead of Expected Utility Theory. Specifically, we study the influence of framing effect and probability weighting on the existence and specific structure of Nash...

Presently, we can not find the scientific analysis that clearly explains the deepest roots of global economical and moral crisis. Because of that many famous politicians, economists, sociologists denote the understanding of current situation as the most valuable attainment. Under traditional...

Consider an infinitely repeated game where each player is characterized by a "type" which may be unknown to the other players in the game. Suppose further that each player's belief about others is independent of that player's type. Impose an absolute continuity condition on the ex ante beliefs...

We characterize the structure of Nash equilibria for a certain class of asset market games. In equilibrium, different assets have different returns, and (risk neutral) investors with different wealth hold portfolios with different structures. In equilibrium, an asset’s return is inversely...

We introduce a class of evolutionary game dynamics — <em>pairwise comparison dynamics</em> — under which revising agents choose a candidate strategy at random, switching to it with positive probability if and only if its payoff is higher than the agent’s current strategy. We prove that all such...

Till the nowadays we cannot find the scientific analysis that clearly explains the deepest roots of global economical and moral crisis. Because of that many famous politicians, economists, sociologists denote the understanding of current situation as the most valuable attainment. Under...