The spatially dominant equilibrium of a game

The spatially dominant equilibrium of a game

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Article ID: iaor20014116
Country: Netherlands
Volume: 89
Start Page Number: 233
End Page Number: 251
Publication Date: Jun 1999
Journal: Annals of Operations Research
Authors:
Keywords: economics
Abstract:

A new framework for equilibrium selection is presented. Playing games recurrently in space and time may render one of the equilibria ‘spatially dominant’. Prevailing initially on a large enough finite part of the space, it will take over on the whole space in the long run. In particular it will drive out the other equilibria along travelling waves. This new dominance concept is compared with the Harsanyi–Selten risk-dominance concept.

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