Cycles with Undistinguished Actions and Extended Rock-Paper-Scissors Games
AbstractThe present paper examines zero-sum games that are based on a cyclic preference relation defined over anonymous actions. For each of these games, the set of Nash equilibria is characterized. When the number of actions is odd, a unique Nash equilibrium is always obtained. On the other hand, in the case of an even number of actions, every such game exhibits an infinite number of Nash equilibria. As a special case, a proof of the uniqueness of the Nash equilibrium for the Rock-Paper-Scissors game obtains.
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Bibliographic InfoPaper provided by Virginia Polytechnic Institute and State University, Department of Economics in its series Working Papers with number e07-34.
Length: 48 pages
Date of creation: 2012
Date of revision:
cycle; Nash equilibrium; minimax theorem.;
Other versions of this item:
- Bahel, Eric & Haller, Hans, 2013. "Cycles with undistinguished actions and extended Rock–Paper–Scissors games," Economics Letters, Elsevier, vol. 120(3), pages 588-591.
- C72 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Noncooperative Games
This paper has been announced in the following NEP Reports:
- NEP-ALL-2012-03-28 (All new papers)
- NEP-GTH-2012-03-28 (Game Theory)
- NEP-MIC-2012-03-28 (Microeconomics)
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Eric Bahel, 2011.
"Rock-Paper-Scissors and Cycle-Based Games,"
e07-31, Virginia Polytechnic Institute and State University, Department of Economics.
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