Bagnoli, Lidia ;
Negroni, Giorgio
(2008)
The emergence of norms of cooperation in stag hunt games with production.
Bologna:
Dipartimento di Scienze economiche DSE,
p. 41.
DOI
10.6092/unibo/amsacta/4624.
In: Quaderni - Working Paper DSE
(626).
ISSN 2282-6483.
Full text available as:
Abstract
In this paper we study a two agents asymmetric stag hunt game. The
model has an infinity of strict, Pareto rankable Nash equilibria. The
equilibrium selection problem is solved by appealing to the stochastic
stability concept put forward by Young (1993). We prove two main results.
When the action sets are numerable in.nite sets, then for any value of the
distributive parameter we can expect the emergence of a norm involving
less than maximal cooperation. When instead the action sets are finite
sets of a particular type (in the sense that each agent can choose his
maximum optimal effort and fractions of this), then for some value of the
distributive parameter we can expect the emergence of a norm involving
maximal cooperation.
Abstract
In this paper we study a two agents asymmetric stag hunt game. The
model has an infinity of strict, Pareto rankable Nash equilibria. The
equilibrium selection problem is solved by appealing to the stochastic
stability concept put forward by Young (1993). We prove two main results.
When the action sets are numerable in.nite sets, then for any value of the
distributive parameter we can expect the emergence of a norm involving
less than maximal cooperation. When instead the action sets are finite
sets of a particular type (in the sense that each agent can choose his
maximum optimal effort and fractions of this), then for some value of the
distributive parameter we can expect the emergence of a norm involving
maximal cooperation.
Document type
Monograph
(Working Paper)
Creators
Keywords
asymmetric stag hunt game; stochastic stability; cooper-
ation norms
Subjects
ISSN
2282-6483
DOI
Deposit date
16 Feb 2016 15:08
Last modified
16 Feb 2016 15:08
URI
Other metadata
Document type
Monograph
(Working Paper)
Creators
Keywords
asymmetric stag hunt game; stochastic stability; cooper-
ation norms
Subjects
ISSN
2282-6483
DOI
Deposit date
16 Feb 2016 15:08
Last modified
16 Feb 2016 15:08
URI
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