Download or read book A characterization of the Nash bargaining solution not using IIA written by Hans Peters and published by . This book was released on 1987 with total page 15 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book A characterization of the Nash bargaining solution not using II A written by Hans J. M. Peters and published by . This book was released on 1987 with total page 15 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Stability and Perfection of Nash Equilibria written by Eric van Damme and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 331 pages. Available in PDF, EPUB and Kindle. Book excerpt: The last decade has seen a steady increase in the application of concepts from noncooperative game theory to such diverse fields as economics, political science, law, operations research, biology and social psychology. As a byproduct of this increased activity, there has been a growing awareness of the fact that the basic noncooperative solution concept, that of Nash equilibrium, suffers from severe drawbacks. The two main shortcomings of this concept are the following: (i) In extensive form games, a Nash strategy may prescribe off the equilibrium path behavior that is manifestly irrational. (Specifically, Nash equilibria may involve incredible threats), (ii) Nash equilibria need not be robust with respect to small perturbations in the data of the game. Confronted with the growing evidence to the detriment of the Nash concept, game theorists were prompted to search for more refined equilibrium notions with better properties and they have come up with a wide array of alternative solution concepts. This book surveys the most important refinements that have been introduced. Its objectives are fourfold (i) to illustrate desirable properties as well as drawbacks of the various equilibrium notions by means of simple specific examples, (ii) to study the relationships between the various refinements, (iii) to derive simplifying characterizations, and (iv) to discuss the plausibility of the assumptions underlying the concepts.
Download or read book Axiomatic Bargaining Game Theory written by H.J. Peters and published by Springer Science & Business Media. This book was released on 2013-04-17 with total page 244 pages. Available in PDF, EPUB and Kindle. Book excerpt: Many social or economic conflict situations can be modeled by specifying the alternatives on which the involved parties may agree, and a special alternative which summarizes what happens in the event that no agreement is reached. Such a model is called a bargaining game, and a prescription assigning an alternative to each bargaining game is called a bargaining solution. In the cooperative game-theoretical approach, bargaining solutions are mathematically characterized by desirable properties, usually called axioms. In the noncooperative approach, solutions are derived as equilibria of strategic models describing an underlying bargaining procedure. Axiomatic Bargaining Game Theory provides the reader with an up-to-date survey of cooperative, axiomatic models of bargaining, starting with Nash's seminal paper, The Bargaining Problem. It presents an overview of the main results in this area during the past four decades. Axiomatic Bargaining Game Theory provides a chapter on noncooperative models of bargaining, in particular on those models leading to bargaining solutions that also result from the axiomatic approach. The main existing axiomatizations of solutions for coalitional bargaining games are included, as well as an auxiliary chapter on the relevant demands from utility theory.
Download or read book Characterization and Implementation of Nash Bargaining Solutions with Non Convexity written by Cheng-Zhong Qin and published by . This book was released on 2017 with total page 43 pages. Available in PDF, EPUB and Kindle. Book excerpt: We consider bargaining problems with compact star-shaped choice sets arising from a class of economic bargaining environments. Convex or comprehensive (relative to the disagreement point) problems are star-shaped but not conversely. We characterize single-valued solutions satisfying the Nash axioms on the class of compact star-shaped bargaining problems. For the case with two players, we show that there are exactly two solutions with each being a dictatorial (in favor of one player) selection of Nash product maximizers. We provide an extensive form game to implement Nash bargaining solutions. We extend our analysis and results to allow for alternative domains, asymmetries, and more than two players. For the n-player case, Nash solutions are shown to be determined by n-round iterative maximizations of Nash products.
Download or read book Game Equilibrium Models II written by Reinhard Selten and published by Springer Science & Business Media. This book was released on 2013-04-18 with total page 377 pages. Available in PDF, EPUB and Kindle. Book excerpt: The four volumes of Game Equilibrium Models present applications of non-cooperative game theory. Problems of strategic interaction arising in biology, economics, political science and the social sciences in general are treated in 42 papers on a wide variety of subjects. Internationally known authors with backgrounds in various disciplines have contributed original research. The reader finds innovative modelling combined with advanced methods of analysis. The four volumes are the outcome of a research year at the Center for Interdisciplinary Studies of the University of Bielefeld. The close interaction of an international interdisciplinary group of researchers has produced an unusual collection of remarkable results of great interest for everybody who wants to be informed on the scope, potential, and future direction of work in applied game theory. Volume II Methods, Morals and Markets contains areas of research which will attract the interest of economists, political scientists, mathematicians and philosophers. The papers deal with the methodology of analysis of games, game theoretic contributions to fundamental ethical questions facing societies and game-theoretic analyses of market environments.
Download or read book A Cardinal Characterization of the Rubinstein Safra Thomson Axiomatic Bargaining Theory written by Simon Grant and published by . This book was released on 1993 with total page 28 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book jerry green written by economics letters and published by . This book was released on with total page 878 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Bilateral Bargaining written by Stefan Napel and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 193 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book investigates bargaining between two agents. Its objective is to present, to extend, and to apply the present state of theoretical knowledge. A wide range of questions will be considered: First of all, will two parties reach efficient agreements? Traditional economic theory gives a generally affirma tive answer for perfectly rational agents, who can carry out complex calcu lations instantaneously and without cost. The book uses innovative methods to analyse the implications of less demanding assumptions. A practical ques tion related to bargaining is: How much power does the design of institutions such as the U. N. Security Council give to each of its members? Formally, non permanent members' votes are necessary to pass resolutions, but theoretical investigation of pre-voting negotiation attributes all power to the five perma nent members. Or one may ask whether a society should rather finance the education in higher mathematics for a talented person than remedial training for a retarded person? Different concepts of justice yield different answers. Which particular concept is implemented in a given society is also a matter of bargaining, and it is of special philosophical interest to investigate which bargain will be struck in an ideal society in which individual talents and resources are not yet known. Very generally, a bilateral bargaining situation is characterized by two agents - individuals, firms, governments, etc.
Download or read book An Alternative Characterization of Nash s Solution to the Bargaining Problem written by Zvi A. Livne and published by . This book was released on 1983 with total page 42 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book On the Sensitivity Matrix of the Nash Bargaining Solution written by Jacob Christiaan Engwerda and published by . This book was released on 2005 with total page 12 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book New Trends in Dynamic Games and Applications written by Jan G. Olsder and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 478 pages. Available in PDF, EPUB and Kindle. Book excerpt: The theory of dynamic games is very rich in nature and very much alive! If the reader does not already agree with this statement, I hope he/she will surely do so after having consulted the contents of the current volume. The activities which fall under the heading of 'dynamic games' cannot easily be put into one scientific discipline. On the theoretical side one deals with differential games, difference games (the underlying models are described by differential, respec tively difference equations) and games based on Markov chains, with determin istic and stochastic games, zero-sum and nonzero-sum games, two-player and many-player games - all under various forms of equilibria. On the practical side, one sees applications to economics (stimulated by the recent Nobel prize for economics which went to three prominent scientists in game theory), biology, management science, and engineering. The contents of this volume are primarily based on selected presentations made at the Sixth International Symposium on Dynamic Games and Applica tions, held in St Jovite, Quebec, Canada, 13-15 July 1994. Every paper that appears in this volume has passed through a stringent reviewing process, as is the case with publications for archival technical journals. This conference, as well as its predecessor which was held in Grimentz, 1992, took place under the auspices of the International Society of Dynamic Games (ISDG), established in 1990. One of the activities of the ISDG is the publication of these Annals. The contributions in this volume have been grouped around five themes.
Download or read book Real Analysis with Economic Applications written by Efe A. Ok and published by Princeton University Press. This book was released on 2011-09-05 with total page 833 pages. Available in PDF, EPUB and Kindle. Book excerpt: There are many mathematics textbooks on real analysis, but they focus on topics not readily helpful for studying economic theory or they are inaccessible to most graduate students of economics. Real Analysis with Economic Applications aims to fill this gap by providing an ideal textbook and reference on real analysis tailored specifically to the concerns of such students. The emphasis throughout is on topics directly relevant to economic theory. In addition to addressing the usual topics of real analysis, this book discusses the elements of order theory, convex analysis, optimization, correspondences, linear and nonlinear functional analysis, fixed-point theory, dynamic programming, and calculus of variations. Efe Ok complements the mathematical development with applications that provide concise introductions to various topics from economic theory, including individual decision theory and games, welfare economics, information theory, general equilibrium and finance, and intertemporal economics. Moreover, apart from direct applications to economic theory, his book includes numerous fixed point theorems and applications to functional equations and optimization theory. The book is rigorous, but accessible to those who are relatively new to the ways of real analysis. The formal exposition is accompanied by discussions that describe the basic ideas in relatively heuristic terms, and by more than 1,000 exercises of varying difficulty. This book will be an indispensable resource in courses on mathematics for economists and as a reference for graduate students working on economic theory.
Download or read book OPTIMIZATION AND OPERATIONS RESEARCH Volume III written by Ulrich Derigs and published by EOLSS Publications. This book was released on 2009-02-09 with total page 438 pages. Available in PDF, EPUB and Kindle. Book excerpt: Optimization and Operations Research is a component of Encyclopedia of Mathematical Sciences in the global Encyclopedia of Life Support Systems (EOLSS), which is an integrated compendium of twenty one Encyclopedias. The Theme on Optimization and Operations Research is organized into six different topics which represent the main scientific areas of the theme: 1. Fundamentals of Operations Research; 2. Advanced Deterministic Operations Research; 3. Optimization in Infinite Dimensions; 4. Game Theory; 5. Stochastic Operations Research; 6. Decision Analysis, which are then expanded into multiple subtopics, each as a chapter. These four volumes are aimed at the following five major target audiences: University and College students Educators, Professional Practitioners, Research Personnel and Policy Analysts, Managers, and Decision Makers and NGOs.
Download or read book Non cooperative Support for the Asymmetric Nash Bargaining Solution written by Volker Britz. and published by . This book was released on 2008 with total page 21 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Characterizing the Nash Bargaining Solution Without Pareto optimality written by Terje Lensberg and published by . This book was released on 1987 with total page 24 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Gradual Bargaining written by Zvi Wiener and published by . This book was released on 1999 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: We propose a model of gradual bargaining in the spirit of the Nash axiomatic theory. In this model the underlying set of payoff opportunities expands continuously with time. Unlike Nash's solution that predicts a single agreement for each bargaining problem, our solution yields a continuous path of agreements--one for each point in time. It emerges from a simple and intuitive differential equation. We discuss the relationship between the gradual solution and various solution concepts of the standard Nash framework, and characterize it axiomatically with the essential axiom being "Invariance with Respect to Increasing Transformations". By using the richer framework of gradual bargaining, our axiomatization resolves a well known impossibility result by Shapley (1969), and it allows to construct an ordinal solution. Furthermore, our approach deals with some of the shortcomings of Nash's axiomatization. In particular, our axiomatic characterization does not use the controversial axiom of IIA and the sets of payoff opportunities are not restricted to be convex. In the spirit of the Nash Program we propose several non cooperative bargaining models that sustain our solution. Finally, we apply our model to discuss the allocation of physical (or monetary) assets when individuals' risk aversion changes over time.
