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Incomplete stable structures in symmetric convex games

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  • Slikker, Marco
  • Norde, Henk

Abstract

We study the model of link formation that was introduced by Aumann and Myerson (1988) and focus on symmetric convex games with transferable utilities. We show that with at most five players the full cooperation structure results according to a subgame perfect Nash equilibrium.Moreover, if the game is strictly convex then every subgame perfect Nash equilibrium results in a structure that is payoff equivalent to the full cooperation structure. Subsequently, we analyze a game with six players that is symmetric and strictly convex.We show that there exists a subgame Nash equilibrium that results in an incomplete structure in which two players are worse off than in the full cooperation structure, whereas four players are better off.Independent of the initial order any pair of players can end up being exploited.

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Bibliographic Info

Article provided by Elsevier in its journal Games and Economic Behavior.

Volume (Year): 48 (2004)
Issue (Month): 1 (July)
Pages: 171-200

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Handle: RePEc:eee:gamebe:v:48:y:2004:i:1:p:171-200

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Web page: http://www.elsevier.com/locate/inca/622836

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  1. Borm, P.E.M., 1990. "On game theoretic models and solution concepts," Open Access publications from Tilburg University urn:nbn:nl:ui:12-155350, Tilburg University.
  2. Borm, P.E.M. & Owen, G. & Tijs, S.H., 1992. "On the position value for communication situations," Open Access publications from Tilburg University urn:nbn:nl:ui:12-154855, Tilburg University.
  3. Roger B. Myerson, 1976. "Graphs and Cooperation in Games," Discussion Papers 246, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
  4. Feinberg, Yossi, 1998. "An Incomplete Cooperation Structure for a Voting Game Can Be Strategically Stable," Games and Economic Behavior, Elsevier, vol. 24(1-2), pages 2-9, July.
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Cited by:
  1. Slikker, M. & Gilles, R.P. & Norde, H.W. & Tijs, S.H., 2000. "Directed Communication Networks," Discussion Paper 2000-84, Tilburg University, Center for Economic Research.
  2. Slikker, Marco & Gilles, Robert P. & Norde, Henk & Tijs, Stef, 2005. "Directed networks, allocation properties and hierarchy formation," Mathematical Social Sciences, Elsevier, vol. 49(1), pages 55-80, January.
  3. Slikker, M. & Norde, H.W., 2004. "Symmetric Convex Games and Stable Structures," Discussion Paper 2004-114, Tilburg University, Center for Economic Research.

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