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Games without Rules

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  • Flavio Menezes

    ()

  • John Quiggin

    ()

Abstract

We introduce the notion of an outcome space, in which strategic interactions are embedded. This allows us to investigate the idea that one strategic interaction might be an expanded version of another interaction. We then characterize the Nash equilibria arising in such extensions and demonstrate a folk-type theorem stating that any individually rational element of the outcome space is a Nash equilibrium.

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Bibliographic Info

Article provided by Springer in its journal Theory and Decision.

Volume (Year): 63 (2007)
Issue (Month): 4 (December)
Pages: 315-347

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Handle: RePEc:kap:theord:v:63:y:2007:i:4:p:315-347

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Web page: http://www.springerlink.com/link.asp?id=100341

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Keywords: Outcome spaces; folk theorem;

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References

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  12. Nitzan, Shmuel, 1994. "Modelling rent-seeking contests," European Journal of Political Economy, Elsevier, vol. 10(1), pages 41-60, May.
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  16. Haan, Marco & Schoonbeek, Lambert, 2001. "Rent seeking with efforts and bids," CCSO Working Papers 200113, University of Groningen, CCSO Centre for Economic Research.
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Citations

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Cited by:
  1. Flavio Menezes & John Quiggin, 2009. "Markets for Influence," Risk & Uncertainty Working Papers WPR09_2, Risk and Sustainable Management Group, University of Queensland.
  2. Menezes, Flavio & Quiggin, John, 2007. "Can Game Theory be Saved," Risk and Sustainable Management Group Working Papers 151181, University of Queensland, School of Economics.
  3. Menezes, Flavio M. & Quiggin, John, 2012. "More competitors or more competition? Market concentration and the intensity of competition," Economics Letters, Elsevier, vol. 117(3), pages 712-714.
  4. Menezes, Flavio & Quiggin, John, 2013. "Inferring the strategy space from market outcomes," Risk and Sustainable Management Group Working Papers 151206, University of Queensland, School of Economics.

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