Related papers: The Nash-Equilibrium Requires Strong Cooperation
Nash equilibrium is the most commonly-used notion of equilibrium in game theory. However, it suffers from numerous problems. Some are well known in the game theory community; for example, the Nash equilibrium of repeated prisoner's dilemma…
The fundamental laws of quantum world upsets the logical foundation of classic physics. They are completely counter-intuitive with many bizarre behaviors. However, this paper shows that they may make sense from the perspective of a general…
An analysis of several important aspects of competition or conflict in games, social choice and decision theory is presented. Inherent difficulties and complexities in cooperation are highlighted. These have over the years led to a certain…
We characterize Nash equilibrium by postulating coherent behavior across varying games. Nash equilibrium is the only solution concept that satisfies the following axioms: (i) strictly dominant actions are played with positive probability,…
The noncooperative Nash equilibrium solution of classical games corresponds to a rational expectations attitude on the part of the players. However, in many cases, games played by human players have outcomes very different from Nash…
Economists were content with the concept of the Nash equilibrium as game theory's solution concept until Daskalakis, Goldberg, and Papadimitriou showed that finding a Nash equilibrium is most likely a computationally hard problem, a result…
The Nash Equilibrium is a much discussed, deceptively complex, method for the analysis of non-cooperative games. If one reads many of the commonly available definitions the description of the Nash Equilibrium is deceptively simple in…
In a society of completely selfish individuals where everybody is only interested in maximizing his own payoff, does any equilibrium exist for the society? John Nash proved more than 50 years ago that an equilibrium always exists such that…
Conventional noncooperative game theory hypothesizes that the joint strategy of a set of players in a game must satisfy an "equilibrium concept". All other joint strategies are considered impossible; the only issue is what equilibrium…
We suggest to look at quantum measurement outcomes not through the lens of probability theory, but instead through decision theory. We introduce an original game-theoretical framework, model and algorithmic procedure where measurement…
In evolutionary game theory, evolutionarily stable states are characterised by the folk theorem because exact solutions to the replicator equation are difficult to obtain. It is generally assumed that the folk theorem, which is the…
Nash equilibrium is a solution concept in non-strictly competitive, non-cooperative game theory that finds applications in various scientific and engineering disciplines. A non-strictly competitive, non-cooperative game model is presented…
Cooperative games can be distinguished as non-cooperative games in which players can freely sign binding agreements to form coalitions. These coalitions inherit a joint strategy set and seek to maximize collective payoffs. When the payoffs…
This paper introduces a unified framework called cooperative extensive form games, which (i) generalizes standard non-cooperative games, and (ii) allows for more complex coalition formation dynamics than previous concepts like…
The emergence of cooperation figures among the main goal of game theory in competitive-cooperative environments. Potential games have long been hinted as viable alternatives to study realistic player behavior. Here, we expand the potential…
An axiomatic characterization of Nash equilibrium is provided for games in normal form. The Nash equilibrium correspondence is shown to be fully characterized by four simple and intuitive axioms, two of which are inspired by contraction and…
The theory of quantum games permits players to choose strategies that prepare and measure quantum states. Whereas conventional game theory provides guarantees for fixed-point stability in non-cooperative games, so-called Nash equilibria, we…
In a society of multiple individuals, if everybody is only interested in maximizing his own payoff, will there exist any equilibrium for the society? John Nash proved more than 50 years ago that an equilibrium always exists such that nobody…
Experimental economics has repeatedly demonstrated that the Nash equilibrium makes inaccurate predictions for a vast set of games. Instead, several alternative theoretical concepts predict behavior that is much more in tune with observed…
Nash equilibrium serves as a fundamental mathematical tool in economics and game theory. However, it classically assumes knowledge of player utilities, whereas economics generally regards preferences as more fundamental. To leverage…