The work of John Nash in game theory

Article Abstract:

Nash equilibrium is the most frequently used concept in single game theory. The concept applies to oligopoly, market equilibrium, bargaining, product quality, principal-agent relationships, insurance, public goods and other economic factors. John Nash also distinguished cooperative and non-cooperative games which differ in considering player commitments. His other contributions to economics include the Nash bargaining solution, and games with fixed and variable threats.

Evaluation, Equilibrium (Economics), Nash, John

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Clever agents in Young's evolutionary bargaining model

Article Abstract:

P Young provided a new support of a solution to solve the multiplicity problem in bilateral bargaining situations that was proposed by J Nash, based on the unperturbed Nash demand game. Young embeds the Nash demand game in an evolutionary model and imposes perturbations on individual behaviors in the population. A study investigated the robustness of Young's framework relating to the knowledge and rationality of the individuals playing the Nash demand game.

Economics, Research and Development in the Social Sciences and Humanities, Management Theory & Techniques, Models, Case studies, Management, Economic research, Negotiation, Negotiations, Games of strategy (Mathematics)

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Discounting and Altruism to future decision makers

Article Abstract:

The consistency of the consumption utilities of the discounting, with the altruism for the future decision makers is explained. The necessary and the sufficient conditions of the discounting functions to be consistent with the selflessness are discussed.

Sweden, Decision-making, Decision making, Analysis, Usage, Altruism, Altruism (Human behavior), Econometric models

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