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Cooperative vs. Non-Cooperative Truels: Little Agreement, But Does That Matter?

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Author Info

  • Bossert, W.
  • Brams, S. J.
  • Kilgour, D. M.

Abstract

It is well-known that non-cooperative and cooperative game theory may yield different solutions to games. These differences are particularly dramatic in the case of truels, or three-person duels, in which the players may fire sequentially or simultaneously, and the games may be one-round or n-round. Thus, it is never a Nash equilibrium for all players to hold their fire in any of these games, whereas in simultaneous one-round and n-round truels such cooperation, wherein everybody survives, is in both the alpha-core and beta-core. On the other hand, both cores may be empty, indicating a lack of stability, when the unique Nash equilibrium is one survivor. Conditions under which each approach seems most applicable are discussed. Although it might be desirable to subsume the two approaches within a unified framework, such unification seems unlikely since the two approaches are grounded in fundamentally different notions of stability.

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File URL: http://econ.as.nyu.edu/docs/IO/9188/RR00-19.PDF
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Bibliographic Info

Paper provided by C.V. Starr Center for Applied Economics, New York University in its series Working Papers with number 00-19.

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Length: 20 pages
Date of creation: 2000
Date of revision:
Handle: RePEc:cvs:starer:00-19

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Postal: C.V. Starr Center, Department of Economics, New York University, 19 W. 4th Street, 6th Floor, New York, NY 10012
Phone: (212) 998-8936
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Web page: http://econ.as.nyu.edu/object/econ.cvstarr.html
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Postal: C.V. Starr Center, Department of Economics, New York University, 19 W. 4th Street, 6th Floor, New York, NY 10012
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Related research

Keywords: COOPERATIVE GAME; NON-COOPERATIVE GAME; TRUEL; NASH EQUILIBRIUM; CORE;

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