Deviations, dynamics, and equilibrium refinements

Article Abstract:

Non-cooperative game theory equilibrium, which only exists if participants use a non-deviation play, can be affected by possible deviation refinements and renegotiations especially in games with multiple participants. Deviation refinements, which are more possible in games with high correspondence between players, can affect coalition-proof equilibrium only if they themselves are not affected by subsequent coalitional renegotiations. A model using different deviations shows the disparity between "stable" and "recurrent" equilibrium.

Game theory, Equilibrium (Economics)

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On the intransitivity of preferences consistent with similarity relations

Article Abstract:

Rubinstein's work related to similarity relations-based decision-making proved to be valid based on experimental results of an analysis involving transitiveness of preferences. Specifically, Rubinstein's claim on the negative effect of perception limitation on the effectiveness of transitivity property to illustrate human choices was validated by experimental results. It was revealed that preferences tend to be intransitive when alternatives of arbitrary dimensions are permitted.

Economics, Research and Development in the Social Sciences and Humanities, Decision-making, Models, Decision making

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