IDEAS home Printed from https://ideas.repec.org/p/tiu/tiucen/6da9a264-eb72-486e-92d7-86db6e26fad6.html
   My bibliography  Save this paper

Credible Equilibria in Games with Utilities Changing During the Play

Author

Listed:
  • Ferreira, J.
  • Gilboa, I.
  • Maschler, M.B.

    (Tilburg University, Center For Economic Research)

Abstract

Whenever one deals with an interactive decision situation of long duration, one has to take into account that priorities of the participants may change during the conflict. In this paper we propose an extensive-form game model to handle such situations and suggest and study a solution concept, called credible equilibrium, which generalizes the concept of the Nash equilibrium. We also discuss possible variants to this concept and applications of the model to other types of games.
(This abstract was borrowed from another version of this item.)
(This abstract was borrowed from another version of this item.)
(This abstract was borrowed from another version of this item.)
(This abstract was borrowed from another version of this item.)
(This abstract was borrowed from another version of this item.)
(This abstract was borrowed from another version of this item.)
(This abstract was borrowed from another version of this item.)
(This abstract was borrowed from another version of this item.)
(This abstract was borrowed from another version of this item.)
(This abstract was borrowed from another version of this item.)
(This abstract was borrowed from another version of this item.)
(This abstract was borrowed from another version of this item.)
(This abstract was borrowed from another version of this item.)
(This abstract was borrowed from another version of this item.)
(This abstract was borrowed from another version of this item.)
(This abstract was borrowed from another version of this item.)
(This abstract was borrowed from another version of this item.)
(This abstract was borrowed from another version of this item.)
(This abstract was borrowed fr
(This abstract was borrowed from another version of this item.)

Suggested Citation

  • Ferreira, J. & Gilboa, I. & Maschler, M.B., 1992. "Credible Equilibria in Games with Utilities Changing During the Play," Discussion Paper 1992-17, Tilburg University, Center for Economic Research.
  • Handle: RePEc:tiu:tiucen:6da9a264-eb72-486e-92d7-86db6e26fad6
    as

    Download full text from publisher

    File URL: https://pure.uvt.nl/ws/portalfiles/portal/1148786/JLFIGMM5620796.pdf
    Download Restriction: no
    ---><---

    Other versions of this item:

    References listed on IDEAS

    as
    1. John C. Harsanyi, 1953. "Welfare Economics of Variable Tastes," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 21(3), pages 204-213.
    2. Charles Blackorby & David Nissen & Daniel Primont & R. Robert Russell, 1973. "Consistent Intertemporal Decision Making," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 40(2), pages 239-248.
    3. Edi Karni & Zvi Safra, 1989. "Dynamic Consistency, Revelations in Auctions and the Structure of Preferences," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 56(3), pages 421-433.
    4. Bernheim, B. Douglas & Peleg, Bezalel & Whinston, Michael D., 1987. "Coalition-Proof Nash Equilibria I. Concepts," Journal of Economic Theory, Elsevier, vol. 42(1), pages 1-12, June.
    5. Robert Aumann & Adam Brandenburger, 2014. "Epistemic Conditions for Nash Equilibrium," World Scientific Book Chapters, in: The Language of Game Theory Putting Epistemics into the Mathematics of Games, chapter 5, pages 113-136, World Scientific Publishing Co. Pte. Ltd..
    6. Machina, Mark J, 1989. "Dynamic Consistency and Non-expected Utility Models of Choice under Uncertainty," Journal of Economic Literature, American Economic Association, vol. 27(4), pages 1622-1668, December.
    7. Peter J. Hammond, 1976. "Changing Tastes and Coherent Dynamic Choice," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 43(1), pages 159-173.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Jonathan Shalev, 2000. "Loss aversion equilibrium," International Journal of Game Theory, Springer;Game Theory Society, vol. 29(2), pages 269-287.
    2. P. Corcho Sánchez & J.L. Ferreira García, 1998. "Credible equilibria in non-finite games and ingames without perfect recall," Annals of Operations Research, Springer, vol. 84(0), pages 167-185, December.
    3. SHALEV, Jonathan, 1998. "Loss aversion in repeated games," LIDAM Discussion Papers CORE 1998014, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
    4. Ariane Lambert-Mogiliansky & Ismael Martinez-Martinez, 2014. "Basic Framework for Games with Quantum-like Players," Working Papers hal-01095472, HAL.
    5. Adam Tauman Kalai & Ehud Kalai & Dov Samet, 2007. "Voluntary Commitments Lead to Efficiency," Discussion Papers 1444, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
    6. Gilboa, Itzhak, 1997. "A Comment on the Absent-Minded Driver Paradox," Games and Economic Behavior, Elsevier, vol. 20(1), pages 25-30, July.
    7. Ariane Lambert-Mogiliansky & Ismael Martinez-Martinez, 2014. "Basic Framework for Games with Quantum-like Players," PSE Working Papers hal-01095472, HAL.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Hammond, Peter J & Zank, Horst, 2013. "Rationality and Dynamic Consistency under Risk and Uncertainty," The Warwick Economics Research Paper Series (TWERPS) 1033, University of Warwick, Department of Economics.
    2. Pan, Jinrui & Webb, Craig S. & Zank, Horst, 2015. "An extension of quasi-hyperbolic discounting to continuous time," Games and Economic Behavior, Elsevier, vol. 89(C), pages 43-55.
    3. John D. Hey & Luca Panaccione, 2018. "Dynamic decision making: what do people do?," World Scientific Book Chapters, in: Experiments in Economics Decision Making and Markets, chapter 10, pages 235-273, World Scientific Publishing Co. Pte. Ltd..
    4. John D. Hey & Gianna Lotito, 2018. "Naive, resolute or sophisticated? A study of dynamic decision making," World Scientific Book Chapters, in: Experiments in Economics Decision Making and Markets, chapter 11, pages 275-299, World Scientific Publishing Co. Pte. Ltd..
    5. Jinrui Pan & Craig Webb & Horst Zank, 2013. "Discounting the Subjective Present and Future," Economics Discussion Paper Series 1305, Economics, The University of Manchester.
    6. Van Damme, Eric, 2002. "Strategic equilibrium," Handbook of Game Theory with Economic Applications, in: R.J. Aumann & S. Hart (ed.), Handbook of Game Theory with Economic Applications, edition 1, volume 3, chapter 41, pages 1521-1596, Elsevier.
    7. Thaler, Richard H & Shefrin, H M, 1981. "An Economic Theory of Self-Control," Journal of Political Economy, University of Chicago Press, vol. 89(2), pages 392-406, April.
    8. Nathalie Etchart, 2002. "Adequate Moods for non-eu Decision Making in a Sequential Framework," Theory and Decision, Springer, vol. 52(1), pages 1-28, February.
    9. Dorian Jullien, 2018. "Under Risk, Over Time, Regarding Other People: Language and Rationality within Three Dimensions," Research in the History of Economic Thought and Methodology, in: Including a Symposium on Latin American Monetary Thought: Two Centuries in Search of Originality, volume 36, pages 119-155, Emerald Group Publishing Limited.
    10. Kuzmics, Christoph, 2017. "Abraham Wald's complete class theorem and Knightian uncertainty," Games and Economic Behavior, Elsevier, vol. 104(C), pages 666-673.
    11. Geir B. Asheim, 1997. "Individual and Collective Time-Consistency," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 64(3), pages 427-443.
    12. Battigalli, Pierpaolo & Dufwenberg, Martin, 2009. "Dynamic psychological games," Journal of Economic Theory, Elsevier, vol. 144(1), pages 1-35, January.
    13. Mongin, Philippe, 2019. "Interview of Peter J. Hammond," CRETA Online Discussion Paper Series 50, Centre for Research in Economic Theory and its Applications CRETA.
    14. Arie Kapteyn & Federica Teppa, 2003. "Hypothetical Intertemporal Consumption Choices," Economic Journal, Royal Economic Society, vol. 113(486), pages 140-152, March.
    15. Lotito, Gianna, 2007. "Resolute Choice in interaction: a qualitative experiment," POLIS Working Papers 94, Institute of Public Policy and Public Choice - POLIS.
    16. A. Nebout & D. Dubois, 2014. "When Allais meets Ulysses: Dynamic axioms and the common ratio effect," Journal of Risk and Uncertainty, Springer, vol. 48(1), pages 19-49, February.
    17. Hill, Brian, 2020. "Dynamic consistency and ambiguity: A reappraisal," Games and Economic Behavior, Elsevier, vol. 120(C), pages 289-310.
    18. Webb, Craig S., 2016. "Continuous quasi-hyperbolic discounting," Journal of Mathematical Economics, Elsevier, vol. 64(C), pages 99-106.
    19. Méder, Zsombor Z. & Flesch, János & Peeters, Ronald, 2017. "Naiveté and sophistication in dynamic inconsistency," Mathematical Social Sciences, Elsevier, vol. 87(C), pages 40-54.
    20. Ludwig von Auer, 1999. "Dynamic Choice Mechanisms," Theory and Decision, Springer, vol. 46(3), pages 295-312, June.

    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:tiu:tiucen:6da9a264-eb72-486e-92d7-86db6e26fad6. 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.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with 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: Richard Broekman (email available below). General contact details of provider: http://center.uvt.nl .

    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.