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Social Games: Matching and the play of finitely repeated games

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  • Jackson, Matthew O.
  • Watts, Alison

Abstract

We examine a new class of games, which we call social games, where players not only choose strategies but also choose with whom they play. A group of players who are dissatisfied with the play of their current partners can join together and play a new equilibrium. This imposes new refinements on equilibrium play, where play depends on the relative populations of players in different roles, among other things. We also examine finite repetitions of games where players may choose to rematch in any period. Some equilibria of fixed-player repeated games cannot be sustained as equilibria in a repeated social game. Conversely, the set of repeated matching (or social) equilibria also includes some plays that are not part of any subgame perfect equilibrium of the corresponding fixed-player repeated games. We explore existence under different equilibrium definitions, as well as the relationship to renegotiation-proof equilibrium. It is possible for repeated matching equilibria to be completely distinct from renegotiation-proof equilibria, and even to be Pareto inefficient.

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Bibliographic Info

Paper provided by California Institute of Technology, Division of the Humanities and Social Sciences in its series Working Papers with number 1212.

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Length: 47 pages
Date of creation: Mar 2005
Date of revision:
Publication status: Published:
Handle: RePEc:clt:sswopa:1212

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Postal: Working Paper Assistant, Division of the Humanities and Social Sciences, 228-77, Caltech, Pasadena CA 91125
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Postal: Working Paper Assistant, Division of the Humanities and Social Sciences, 228-77, Caltech, Pasadena CA 91125
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Related research

Keywords: Social Games; Matching; Games; Repeated Games; Renegotiation;

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References

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Citations

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Cited by:
  1. Steffen Huck & Gabriele K. Ruchala & Jean-Robert Tyran, 2006. "Competition Fosters Trust," Discussion Papers 06-22, University of Copenhagen. Department of Economics.
  2. Lanzi, Diego, 2013. "Frames and social games," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 45(C), pages 227-233.
  3. Engseld, Peter & Bergh, Andreas, 2005. "Choosing Opponents in Prisoners' Dilemma: An Evolutionary Analysis," Working Papers 2005:45, Lund University, Department of Economics.
  4. Berninghaus, Siegfried K. & Ehrhart, Karl-Martin & Ott, Marion, 2012. "Forward-looking behavior in Hawk–Dove games in endogenous networks: Experimental evidence," Games and Economic Behavior, Elsevier, vol. 75(1), pages 35-52.
  5. Frédéric Schneider & Roberto A. Weber, 2013. "Long-term commitment and cooperation," ECON - Working Papers 130, Department of Economics - University of Zurich.

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