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Friendliness And Reciprocity In Equilibrium Selection

Author

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  • GIUSEPPE DE MARCO

    (Dipartimento di Statistica e Matematica perla Ricerca Economica, Università di Napoli Parthenope, via Medina 40, 80133 Napoli, Italia)

  • JACQUELINE MORGAN

    (Dipartimento di Matematica e Statistica, Università di Napoli Federico II, via Cinthia, 80126, Napoli, Italy)

Abstract

A concept of altruistic behavior (calledfriendly behavior) has been defined and used for equilibrium selection in some bargaining models in Rusinowska (2002), "Refinements of Nash Equilibria in view of Jealous and Friendly Behavior of Players",International Game Theory Review, 4, 281–299.In this paper, the situation in which every player has friendly behavior is incorporated into the general context of normal form games by introducing a new refinement concept (calledfriendliness equilibrium). Existence, properties and connections with another refinement concept, introduced by the authors in a previous paper and which captures an idea of reciprocal altruism, are investigated. Examples and counterexamples are given illustrating concepts, results and links with other classical refinement concepts.

Suggested Citation

  • Giuseppe De Marco & Jacqueline Morgan, 2008. "Friendliness And Reciprocity In Equilibrium Selection," International Game Theory Review (IGTR), World Scientific Publishing Co. Pte. Ltd., vol. 10(01), pages 53-72.
    • Handle: RePEc:wsi:igtrxx:v:10:y:2008:i:01:n:s0219198908001777
    DOI: 10.1142/S0219198908001777
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    References listed on IDEAS

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    1. Mas-Colell, Andreu & Whinston, Michael D. & Green, Jerry R., 1995. "Microeconomic Theory," OUP Catalogue, Oxford University Press, number 9780195102680.
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    Citations

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    Cited by:

    1. G. De Marco & J. Morgan, 2008. "Slightly Altruistic Equilibria," Journal of Optimization Theory and Applications, Springer, vol. 137(2), pages 347-362, May.
    2. Ahmet Ozkardas & Agnieszka Rusinowska, 2014. "Holdout threats of the union during wage bargaining," Documents de travail du Centre d'Economie de la Sorbonne 14072, Université Panthéon-Sorbonne (Paris 1), Centre d'Economie de la Sorbonne.
    3. Giuseppe De Marco & Jacqueline Morgan, 2007. "Slightly Altruistic Equilibria in Normal Form Games," CSEF Working Papers 185, Centre for Studies in Economics and Finance (CSEF), University of Naples, Italy.
    4. Giuseppe De Marco & Jacqueline Morgan, 2009. "Equilibrium selection and altruistic behavior in noncooperative social networks," TOP: An Official Journal of the Spanish Society of Statistics and Operations Research, Springer;Sociedad de Estadística e Investigación Operativa, vol. 17(2), pages 454-470, December.
    5. Ohnishi, Kazuhiro, 2018. "Non-Altruistic Equilibria," MPRA Paper 88347, University Library of Munich, Germany.
    6. Giuseppe De Marco & Jacqueline Morgan, 2007. "Social Networks: Equilibrium Selection and Friendliness," CSEF Working Papers 198, Centre for Studies in Economics and Finance (CSEF), University of Naples, Italy.

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    More about this item

    Keywords

    Nash equilibrium refinement; friendliness equilibrium; altruistic behavior; pseudo-game; efficiency; 91A06; 91A10; 91A26; C720;
    All these keywords.

    JEL classification:

    • B4 - Schools of Economic Thought and Methodology - - Economic Methodology
    • C0 - Mathematical and Quantitative Methods - - General
    • C6 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling
    • C7 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory
    • D5 - Microeconomics - - General Equilibrium and Disequilibrium
    • D7 - Microeconomics - - Analysis of Collective Decision-Making
    • M2 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Economics

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