On Local and Network Games
The knowledge constraints and transactions costs imposed by geographical distance, network connections and time conspire to justify local behavior as a good approximation for global rationality. We consider a class of games to illustrate this relationship and raise some questions as to what constitutes a satisfactory solution concept.
|Date of creation:||28 Jul 2004|
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- Shubik, Martin, 1996. "Why equilibrium? A note on the noncooperative equilibria of some matrix games," Journal of Economic Behavior & Organization, Elsevier, vol. 29(3), pages 537-539, May.
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CARESS Working Papres
97-01, University of Pennsylvania Center for Analytic Research and Economics in the Social Sciences.
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"Games with Incomplete Information,"
American Economic Review,
American Economic Association, vol. 85(3), pages 291-303, June.
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