English, Article, Journal or magazine article edition: Nash rationalizability of collective choice over lotteries T. DEMUYNCK; L. LAUWERS

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Bookmark: http://trove.nla.gov.au/version/15104
Physical Description
  • preprint
Language
  • English

Edition details

Title
  • Nash rationalizability of collective choice over lotteries
Author
  • T. DEMUYNCK
  • L. LAUWERS
Physical Description
  • preprint
Notes
  • To test the joint hypothesis that players in a noncooperative game (allowing mixed strategies) maximize expected utilities and select a Nash equilibrium, it suffices to study the reaction of the revealed collective choice upon changes in the space of strategies available to the players. The joint hypothesis is supported if the revealed choices satisfy an extended version of Richter’s congruence axiom together with a contraction-expansion axiom that models the noncooperative behavior. In addition, we provide sufficient and necessary conditions for a binary relation to have an independent ordering extension, and for individual choices over lotteries to be rationalizable.
  • independence condition, binary extensions, rationalizability, Nash equilibrium in mixed strategies
  • RePEc:rug:rugwps:05/​301
Language
  • English
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