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Observable Actions

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  • Ishii, Ryosuke

Abstract

We consider a game with " meta-players" who observe each other's actions before actual play. The observability exerts an effect like repeated games without discounting. The game has Nash equilibria with any individually rational payoff profiles. In addition, the outcomes that satisfy a modified version of evolutionary stability lead to Pareto efficiency in coordination games.

Suggested Citation

  • Ishii, Ryosuke, 2012. "Observable Actions," ビジネス創造センターディスカッション・ペーパー (Discussion papers of the Center for Business Creation) 10252/4776, Otaru University of Commerce.
    • Handle: RePEc:ota:busdis:10252/4776
    as

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    References listed on IDEAS

    as
    1. Levine, David K. & Pesendorfer, Wolfgang, 2007. "The evolution of cooperation through imitation," Games and Economic Behavior, Elsevier, vol. 58(2), pages 293-315, February.
    2. Frank, Robert H, 1987. "If Homo Economicus Could Choose His Own Utility Function, Would He Want One with a Conscience?," American Economic Review, American Economic Association, vol. 77(4), pages 593-604, September.
    3. Laurent Keller & Kenneth G. Ross, 1998. "Selfish genes: a green beard in the red fire ant," Nature, Nature, vol. 394(6693), pages 573-575, August.
    4. Ken Binmore, 1994. "Game Theory and the Social Contract, Volume 1: Playing Fair," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262023636, December.
    5. Robson, A.J., 1989. "Efficiency In Evolutionary Games: Darwin, Nash And Secret Handshake," Papers 89-22, Michigan - Center for Research on Economic & Social Theory.
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    More about this item

    Keywords

    Metagame; Folk theorem; Evolutionarily stable set; Equilibrium selection;
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