Non-Cooperative Games

Research output: Working paperDiscussion paperOther research output

1264 Downloads (Pure)

Abstract

We describe non-cooperative game models and discuss game theoretic solution
concepts. Some applications are also noted. Conventional theory focuses on the
question ‘how will rational players play?’, and has the Nash equilibrium at its core.
We discuss this concept and its interpretations, as well as refinements (perfect and
stable equilibria) and relaxations (rationalizability and correlated equilibria).
Motivated by experiments that show systematic theory violations, behavioral game
theory aims to integrate insights from psychology to get better answers to the
question ‘how do humans play?’. We provide an overview of the observed
regularities and briefly sketch (beginnings of) theories of boundedly rational play.
Original languageEnglish
Place of PublicationTilburg
PublisherCentER
Number of pages29
Volume2014-077
Publication statusPublished - 1 Oct 2014

Publication series

NameCentER Discussion Paper
Volume2014-077

Fingerprint

psychology
experiment

Keywords

  • Backward induction
  • behavioral economics
  • correlated equilibrium
  • decision
  • experimental economics
  • game
  • game theory
  • incomplete information
  • noncooperative,
  • perfect equilibrium
  • rationality
  • rationalizability
  • sequential equilibrium
  • stable equilibrium

Cite this

van Damme, E. E. C. (2014). Non-Cooperative Games. (CentER Discussion Paper; Vol. 2014-077). Tilburg: CentER.
van Damme, E.E.C. / Non-Cooperative Games. Tilburg : CentER, 2014. (CentER Discussion Paper).
@techreport{de642e17c01e4069b8b22bad0026655d,
title = "Non-Cooperative Games",
abstract = "We describe non-cooperative game models and discuss game theoretic solutionconcepts. Some applications are also noted. Conventional theory focuses on thequestion ‘how will rational players play?’, and has the Nash equilibrium at its core.We discuss this concept and its interpretations, as well as refinements (perfect andstable equilibria) and relaxations (rationalizability and correlated equilibria).Motivated by experiments that show systematic theory violations, behavioral gametheory aims to integrate insights from psychology to get better answers to thequestion ‘how do humans play?’. We provide an overview of the observedregularities and briefly sketch (beginnings of) theories of boundedly rational play.",
keywords = "Backward induction, behavioral economics, correlated equilibrium, decision, experimental economics, game, game theory, incomplete information, noncooperative,, perfect equilibrium, rationality, rationalizability, sequential equilibrium, stable equilibrium",
author = "{van Damme}, E.E.C.",
year = "2014",
month = "10",
day = "1",
language = "English",
volume = "2014-077",
series = "CentER Discussion Paper",
publisher = "CentER",
type = "WorkingPaper",
institution = "CentER",

}

van Damme, EEC 2014 'Non-Cooperative Games' CentER Discussion Paper, vol. 2014-077, CentER, Tilburg.

Non-Cooperative Games. / van Damme, E.E.C.

Tilburg : CentER, 2014. (CentER Discussion Paper; Vol. 2014-077).

Research output: Working paperDiscussion paperOther research output

TY - UNPB

T1 - Non-Cooperative Games

AU - van Damme, E.E.C.

PY - 2014/10/1

Y1 - 2014/10/1

N2 - We describe non-cooperative game models and discuss game theoretic solutionconcepts. Some applications are also noted. Conventional theory focuses on thequestion ‘how will rational players play?’, and has the Nash equilibrium at its core.We discuss this concept and its interpretations, as well as refinements (perfect andstable equilibria) and relaxations (rationalizability and correlated equilibria).Motivated by experiments that show systematic theory violations, behavioral gametheory aims to integrate insights from psychology to get better answers to thequestion ‘how do humans play?’. We provide an overview of the observedregularities and briefly sketch (beginnings of) theories of boundedly rational play.

AB - We describe non-cooperative game models and discuss game theoretic solutionconcepts. Some applications are also noted. Conventional theory focuses on thequestion ‘how will rational players play?’, and has the Nash equilibrium at its core.We discuss this concept and its interpretations, as well as refinements (perfect andstable equilibria) and relaxations (rationalizability and correlated equilibria).Motivated by experiments that show systematic theory violations, behavioral gametheory aims to integrate insights from psychology to get better answers to thequestion ‘how do humans play?’. We provide an overview of the observedregularities and briefly sketch (beginnings of) theories of boundedly rational play.

KW - Backward induction

KW - behavioral economics

KW - correlated equilibrium

KW - decision

KW - experimental economics

KW - game

KW - game theory

KW - incomplete information

KW - noncooperative,

KW - perfect equilibrium

KW - rationality

KW - rationalizability

KW - sequential equilibrium

KW - stable equilibrium

M3 - Discussion paper

VL - 2014-077

T3 - CentER Discussion Paper

BT - Non-Cooperative Games

PB - CentER

CY - Tilburg

ER -

van Damme EEC. Non-Cooperative Games. Tilburg: CentER. 2014 Oct 1. (CentER Discussion Paper).