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 e07-35.
Length: 48 pages
Date of creation: 2012
Date of revision:
cycle; Nash equilibrium; minimax theorem.;
This paper has been announced in the following NEP Reports:
- NEP-ALL-2012-12-10 (All new papers)
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