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The notion that "everything is connected to everything else" runs through all of modern economics. Economies are connected in the production sphere through the inputs and outputs that circulate through the world; they are connected through the exchange of goods and services; and they are...
Persistent link: https://www.econbiz.de/10005464044
A broad nontechnical coverage of many of the developments in game theory since the 1950s is given together with some comments on important open problems and where some of the developments may take place. The nearly 90 references given serve only as a minimal guide to the many thousands of books...
Persistent link: https://www.econbiz.de/10009204991
The results are presented from several experiments. They include the selection of points in the core, interpersonal comparisons of utility, and the reconsideration of Stone results on prominence in contrast with symmetry.
Persistent link: https://www.econbiz.de/10005762670
This article deals with experimental games as they pertain to game theory. As such there is a natural distinction between experimentation with abstract games devoted to testing a specific hypothesis in game theory and games with a scenario from a discipline such as economics or political science...
Persistent link: https://www.econbiz.de/10005762705
We derive the existence of a Walras equilibrium directly from Nash's theorem on noncooperative games. No price player is involved, nor are generalized games.
Persistent link: https://www.econbiz.de/10005762752
Existence of equilibrium is proved for an exchange strategic market game with complete markets. An example of equilibrium with inconsistent prices is given.
Persistent link: https://www.econbiz.de/10005762760
This is the first projected series of papers on solutions to games in matrix and extensive form.
Persistent link: https://www.econbiz.de/10005593149
We introduce a model of the 2 x 2 games played by agents or subordinates of the players. We assume that each agent or subordinates of the players. We assume that each agent is not as perceptive as his commander in that he can make only two distinctions among the four outcomes whose value can be...
Persistent link: https://www.econbiz.de/10005593204
There are many situations in which a customer's proclivity to buy the product of any firm depends not only on the classical attributes of the product such as its price and quality, but also on who else is buying the same product. We model these situations as games in which firms compete for...
Persistent link: https://www.econbiz.de/10005593259
Since 1973 I have used several three person games in coalitional form for both teaching and experimental purposes. They have been run in primarily a normative mode. The individuals have been asked to act as judges called upon to recommend a division of assets among three players. The basic use...
Persistent link: https://www.econbiz.de/10005593262