WHY EQUILIBRIUM - A NOTE ON THE NONCOOPERATIVE EQUILIBRIA OF SOME MATRIX GAMES

Authors
SHUBIK M
Citation
M. Shubik, WHY EQUILIBRIUM - A NOTE ON THE NONCOOPERATIVE EQUILIBRIA OF SOME MATRIX GAMES, Journal of economic behavior & organization, 29(3), 1996, pp. 537-539
Citations number
NO
Categorie Soggetti
Economics
Journal title
Journal of economic behavior & organization → ACNP
ISSN journal
01672681
Volume
29
Issue
3
Year of publication
1996
Pages
537 - 539
Database
ISI
SICI code
0167-2681(1996)29:3<537:WE-ANO>2.0.ZU;2-2
Abstract
Several examples are presented which raise questions concerning the vi rtue of the noncooperative equilibrium as a solution concept, It is ob served that an optimum response cycle may payoff dominate the unique n oncooperative equilibrium. This work builds on an earlier example prov ided by Shapley.