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Games and Economic Behavior

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Опубликовано на портале: 07-07-2005
Reinhard Selten, Klaus Abbink, Joachim Buchta, Abdolkarim Sadrieh Games and Economic Behavior. 2003.  Vol. 45. No. 1. P. 19-37. 
Using the strategy method (Selten 1967) we elicit subjects' strategies for playing any 2-person 3x3-game with integer payoffs between 0 and 99. In each of 5 tournaments, every strategy pair plays 500000 games. The frequency of pure strategy equilibrium play increases from 51% in the first to 74% in the last tournament, with the equilibria that maximize joint payoff being preferred when multiple exist. For games without pure equilibria, strategies are typically based on elements of the best-reply cascade: MAP (maximize the expected payoff against uniformly randomizing opponents), BR-MAP (best reply to MAP), and BR-BR-MAP (best reply to BR-MAP).
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Опубликовано на портале: 08-07-2005
Kenneth Joseph Arrow Games and Economic Behavior. 2003.  Vol. 45. No. 1. P. 15-18. 
I give some personal reactions to the development of game theory as it found application in economic analysis during the last half-century. I discuss which contributions have in fact found use and, in particular, what was the role of Theory of Games and Economic Behavior in light of previous and subsequent developments.
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