IDEAS home Printed from https://ideas.repec.org/a/vrs/mjsosc/v10y2019i3p1-7n1.html
   My bibliography  Save this article

On the Solutions of Games in Normal Forms: Particular Models based on Nash Equilibrium Theory

Author

Listed:
  • Turbay Gabriel

    (Ph.D. in Mathematical Sciences, Rice University, Houston Texas, President of Strategic Game Theory of Economics Science Society, Colombia)

  • Reyes Giovanni E.

    (Ph.D. in Economics of Development/International Relations, University of Pittsburgh/Harvard, Full, Tenure Professor Universidad del Rosario, Bogotá, Colombia)

Abstract

The main objective of this paper is to present in a deductive way, solutions for general games played under normal conditions following competitive paths, applying core principles of Nash equilibrium. Here the normal approach implies strategic choices available for each player, formulated and implemented without any information concerning specific choices to be made by others players. It is convenient to keep in mind that John von Neumann and Oskar Morgenstern outlined a set of conditions for Nash equilibrium for a game in normal form, proposed as the basic framework to analyze the conditions and requirements for a particular Nash equilibrium to be the solution of the game. Theorems that exhibit imbedding relations among the Nash equilibriums of the game are given to examine the role of pre-play communication and the imbedding order in equilibrium selection. A core argument to claim here is that a generic case of Nash equilibriums that are strategically unstable relative to maxi-min strategies is given to emphasize the role of moves of the third kind and pre-play communication in correlated and coordinated solutions and the need to account for cases where Nash equilibriums are not plausible or even desirable as solutions for a game in normal form.

Suggested Citation

  • Turbay Gabriel & Reyes Giovanni E., 2019. "On the Solutions of Games in Normal Forms: Particular Models based on Nash Equilibrium Theory," Mediterranean Journal of Social Sciences, Sciendo, vol. 10(3), pages 1-7, May.
  • Handle: RePEc:vrs:mjsosc:v:10:y:2019:i:3:p:1-7:n:1
    DOI: 10.2478/mjss-2019-0035
    as

    Download full text from publisher

    File URL: https://doi.org/10.2478/mjss-2019-0035
    Download Restriction: no

    File URL: https://libkey.io/10.2478/mjss-2019-0035?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    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:vrs:mjsosc:v:10:y:2019:i:3:p:1-7:n:1. See general information about how to correct material in RePEc.

    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 bibliographic 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.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Peter Golla (email available below). General contact details of provider: https://www.sciendo.com .

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

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.