The Conventionally Stable Sets in Noncooperative Games with Limited Observations: Definitions and Introductory Arguments
This paper attempts to define a new solution concept for n-person noncooperative games. The idea of the new concept is based on that of the von Neumann-Morgenstern stable set, or more precisely, rather on their interpretation of it which they call "standards of behavior." This new approach enables us to consider new interesting problems of information. Further this approach gives us a plausible interpretation of Nash equilibrium. This paper provides the definition and considers the new solution concept for zero-sum two-person games, the prisoner's dilemma, the battle of sexes and games with a continuum of players.
|Date of creation:||Sep 1981|
|Date of revision:|
|Publication status:||Published in Mathematical Social Sciences (April 1987), 13(2): 93-128|
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- Gardner, Roy, 1977. "Shapley value and disadvantageous monopolies," Journal of Economic Theory, Elsevier, vol. 16(2), pages 513-517, December.
- Rubinstein, Ariel, 1979. "Equilibrium in supergames with the overtaking criterion," Journal of Economic Theory, Elsevier, vol. 21(1), pages 1-9, August.
- Harsanyi, John C., 1994.
"Games with Incomplete Information,"
Nobel Prize in Economics documents
1994-1, Nobel Prize Committee.
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