IDEAS home Printed from https://ideas.repec.org/a/bla/ijethy/v14y2018i1p61-69.html
   My bibliography  Save this article

Nash equilibria of games when players’ preferences are quasi†transitive

Author

Listed:
  • Kaushik Basu
  • Prasanta K. Pattanaik

Abstract

Much of game theory is founded on the assumption that individual players are endowed with preferences that can be represented by a real†valued utility function. However, in reality human preferences are often not transitive. This is especially true for the indifference relation, which can lead an individual to make a series of choices which in their totality would be viewed by the same individual as erroneous. There is a substantial literature that raises intricate questions about individual liberty and the role of government intervention in such contexts. The aim of this paper is not to go into these ethical matters but to provide a formal structure for such analysis by characterizing games where individual preferences are quasi†transitive. The paper identifies a set of axioms which are sufficient for the existence of Nash equilibria in such “games.â€

Suggested Citation

  • Kaushik Basu & Prasanta K. Pattanaik, 2018. "Nash equilibria of games when players’ preferences are quasi†transitive," International Journal of Economic Theory, The International Society for Economic Theory, vol. 14(1), pages 61-69, March.
  • Handle: RePEc:bla:ijethy:v:14:y:2018:i:1:p:61-69
    DOI: 10.1111/ijet.12143
    as

    Download full text from publisher

    File URL: https://doi.org/10.1111/ijet.12143
    Download Restriction: no

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:bla:ijethy:v:14:y:2018:i:1:p:61-69. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Wiley Content Delivery). General contact details of provider: http://www.blackwellpublishing.com/journal.asp?ref=1742-7355 .

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.