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Acceptable Versus Straightforward Game Forms: An Example

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  • J. S. Jordan

Abstract

This paper is concerned with the design of non-cooperative game forms for economic decision problems. A decision problem is presented which admits non-dictatorial game forms with the following properties: Nash equilibria exist and all Nash equilibrium outcomes are Pareto optimal; or dominant strategies exist and all dominant strategy equilibria are Pareto optimal; but not both. This is, any (non-dictatorial) game form whose Nash equilibria are well behaved does not have dominant strategies, and any game form with well behaved dominant strategy equilibria must have at least one non-optimal non-dominant strategy Nash equilibrium.

Suggested Citation

  • J. S. Jordan, 1983. "Acceptable Versus Straightforward Game Forms: An Example," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 50(2), pages 369-373.
    • Handle: RePEc:oup:restud:v:50:y:1983:i:2:p:369-373.
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