A Discussion of Maximin
AbstractThis paper builds on one of the results of Pruzhansky , namely that maximin strategies guarantee the same expected payoffs as mixed Nash equilibrium strategies in bimatrix games. We present a discussion on the applicability of maximin strategies in such class of games. The usefulness of maximin is illustrated from both positive and normative viewpoints. Examples are provided.
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Bibliographic InfoPaper provided by Tinbergen Institute in its series Tinbergen Institute Discussion Papers with number 04-028/1.
Date of creation: 02 Mar 2004
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Bounded rationality; common knowledge of rationality; correlated equilibria; rationalizability; uncertainty aversion;
Find related papers by JEL classification:
- C72 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Noncooperative Games
This paper has been announced in the following NEP Reports:
- NEP-ALL-2004-04-25 (All new papers)
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