IDEAS home Printed from https://ideas.repec.org/a/oup/econjl/v131y2021i638p2629-2641..html
   My bibliography  Save this article

Holding a Group Together: Non-Game Theory Versus Game Theory

Author

Listed:
  • Michael Richter
  • Ariel Rubinstein

Abstract

Each member of a group chooses a position and has preferences regarding his chosen position. The group’s harmony depends on the profile of chosen positions meeting a specific condition. We analyse a solution concept (Richter and Rubinstein, 2020) based on a permissible set of individual positions, which plays a role analogous to that of prices in competitive equilibrium. Given the permissible set, members choose their most preferred position. The set is tightened if the chosen positions are inharmonious and relaxed if the restrictions are unnecessary. This new equilibrium concept yields more attractive outcomes than does Nash equilibrium in the corresponding game.

Suggested Citation

  • Michael Richter & Ariel Rubinstein, 2021. "Holding a Group Together: Non-Game Theory Versus Game Theory," The Economic Journal, Royal Economic Society, vol. 131(638), pages 2629-2641.
    • Handle: RePEc:oup:econjl:v:131:y:2021:i:638:p:2629-2641.
    as

    Download full text from publisher

    File URL: http://hdl.handle.net/10.1093/ej/ueab026
    Download Restriction: Access to full text is restricted to subscribers.
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    More about this item

    Statistics

    Access and download statistics

    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:oup:econjl:v:131:y:2021:i:638:p:2629-2641.. 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: Oxford University Press or the person in charge (email available below). General contact details of provider: https://edirc.repec.org/data/resssea.html .

    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.