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An axiomatic theory of a risk dominance measure for bipolar games with linear incentives

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  • Selten, Reinhard

Abstract

Bipolar games are normal form games with two pure strategies for each player and with two strict equilibrium points without common equilibrium strategies. A normal form game has linear incentives, if for each player the difference between the payoffs for any two pure strategies depends linearly on the probabilities in the mixed strategies used by the other players. A measure of risk dominance between two strict equilibrium points of a bipolar game with linear incentives is characterized by 11 axioms. Journal of Economic Literature Classification Number: C72.

Suggested Citation

  • Selten, Reinhard, 1995. "An axiomatic theory of a risk dominance measure for bipolar games with linear incentives," Games and Economic Behavior, Elsevier, vol. 8(1), pages 213-263.
  • Handle: RePEc:eee:gamebe:v:8:y:1995:i:1:p:213-263
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    References listed on IDEAS

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    1. John C. Harsanyi & Reinhard Selten, 1988. "A General Theory of Equilibrium Selection in Games," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262582384, January.
    2. John C. Harsanyi & Reinhard Selten, 1972. "A Generalized Nash Solution for Two-Person Bargaining Games with Incomplete Information," Management Science, INFORMS, vol. 18(5-Part-2), pages 80-106, January.
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    Cited by:

    1. Viossat, Yannick & Zapechelnyuk, Andriy, 2013. "No-regret dynamics and fictitious play," Journal of Economic Theory, Elsevier, vol. 148(2), pages 825-842.
    2. repec:hal:wpaper:hal-00713871 is not listed on IDEAS
    3. Jon X. Eguia & Aniol Llorente-Saguer & Rebecca Morton & Antonio Nicol�, 2014. "Equilibrium Selection in Sequential Games with Imperfect Information," Working Papers 717, Queen Mary University of London, School of Economics and Finance.
    4. Cabrales, Antonio & Garcia-Fontes, Walter & Motta, Massimo, 2000. "Risk dominance selects the leader: An experimental analysis," International Journal of Industrial Organization, Elsevier, vol. 18(1), pages 137-162, January.
    5. Oyama, Daisuke & Takahashi, Satoru & Hofbauer, Josef, 2008. "Monotone methods for equilibrium selection under perfect foresight dynamics," Theoretical Economics, Econometric Society, vol. 3(2), June.
    6. Schmidt, David & Shupp, Robert & Walker, James M. & Ostrom, Elinor, 2003. "Playing safe in coordination games:: the roles of risk dominance, payoff dominance, and history of play," Games and Economic Behavior, Elsevier, vol. 42(2), pages 281-299, February.
    7. Rebelo, S., 1997. "On the Determinant of Economic Growth," RCER Working Papers 443, University of Rochester - Center for Economic Research (RCER).
    8. Werner Güth, 2002. "On the Inconsistency of Equilibrium Refinement," Theory and Decision, Springer, vol. 53(4), pages 371-392, December.
    9. Kojima, Fuhito, 2006. "Risk-dominance and perfect foresight dynamics in N-player games," Journal of Economic Theory, Elsevier, vol. 128(1), pages 255-273, May.
    10. Daisuke Oyama & Satoru Takahashi & Josef Hofbauer, 2011. "Perfect foresight dynamics in binary supermodular games," International Journal of Economic Theory, The International Society for Economic Theory, vol. 7(3), pages 251-267, September.
    11. Keser, Claudia & Suleymanova, Irina & Wey, Christian, 2012. "Technology adoption in markets with network effects: Theory and experimental evidence," Information Economics and Policy, Elsevier, vol. 24(3), pages 262-276.
    12. Feltovich, Nick & Iwasaki, Atsushi & Oda, Sobei H., 2010. "Payoff levels, loss avoidance, and equilibrium selection in the Stag Hunt: an experimental study," SIRE Discussion Papers 2010-125, Scottish Institute for Research in Economics (SIRE).
    13. Schade, Christian & Schroeder, Andreas & Krause, Kai Oliver, 2010. "Coordination after gains and losses: Is prospect theory’s value function predictive for games?," Structural Change in Agriculture/Strukturwandel im Agrarsektor (SiAg) Working Papers 59524, Humboldt University Berlin, Department of Agricultural Economics.
    14. Thomas Neumann & Bodo Vogt, 2009. "Do Players’ Beliefs or Risk Attitudes Determine The Equilibrium Selections in 2x2 Coordination Games?," FEMM Working Papers 09024, Otto-von-Guericke University Magdeburg, Faculty of Economics and Management.

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    JEL classification:

    • C72 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Noncooperative Games

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