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Altruistic Behavior And Correlated Equilibrium Selection

Author

Listed:
  • GIUSEPPE DE MARCO

    (Dipartimento di Statistica e Matematica per la Ricerca Economica, University of Naples Parthenope, Via Medina 40, Napoli 80133, Italy;
    CSEF, University di Napoli Federico II, Italy)

  • JACQUELINE MORGAN

    (Dipartimento di Matematica e Statistica, University of Naples Federico II, Via Cinthia, Napoli, 80126, Italy;
    CSEF, University di Napoli Federico II, Italy)

Abstract

This paper studies new refinement concepts for correlated equilibria based on altruistic behavior of the players and generalizes some refinement concepts previously developed by the authors for Nash equilibria. Effectiveness of the concepts, relations with the corresponding notions for Nash equilibria and with other correlated equilibrium refinements are investigated. The analysis of the topological properties of the set of solutions concludes the paper.

Suggested Citation

  • Giuseppe De Marco & Jacqueline Morgan, 2011. "Altruistic Behavior And Correlated Equilibrium Selection," International Game Theory Review (IGTR), World Scientific Publishing Co. Pte. Ltd., vol. 13(04), pages 363-381.
    • Handle: RePEc:wsi:igtrxx:v:13:y:2011:i:04:n:s0219198911003118
    DOI: 10.1142/S0219198911003118
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    Cited by:

    1. 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.

    More about this item

    Keywords

    Correlated equilibrium; refinement; altruistic behavior; friendliness;
    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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