EconPapers    
Economics at your fingertips  
 

Nash equilibria in random games with right fat-tailed distributions

Ting Pei (peterpeiting@hotmail.com) and Satoru Takahashi
Additional contact information
Ting Pei: Huazhong University of Science and Technology

International Journal of Game Theory, 2023, vol. 52, issue 4, No 8, 1153-1177

Abstract: Abstract We study the distribution of the number of mixed strategy Nash equilibria in two-player games where each player’s payoffs are independently drawn from an identical distribution. When the payoff distributions are sufficiently right fat-tailed, we characterize the Nash equilibria by best reply cycles of pure strategies, and we show that the expected number of Nash equilibria is approximately $$\sqrt{\pi mn/\left( m+n\right) }$$ π m n / m + n in a random $$m\times n$$ m × n asymmetric game and approximately n/2 in a random $$n\times n$$ n × n symmetric game. We also provide new lower bounds for the expected number of Nash equilibria in a random game with any type of payoff distribution.

Keywords: Random game; Number of equilibria; Best response cycles; Point rationalizability (search for similar items in EconPapers)
Date: 2023
References: Add references at CitEc
Citations:

Downloads: (external link)
http://link.springer.com/10.1007/s00182-023-00863-2 Abstract (text/html)
Access to the full text of the articles in this series is restricted.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:spr:jogath:v:52:y:2023:i:4:d:10.1007_s00182-023-00863-2

Ordering information: This journal article can be ordered from
http://www.springer. ... eory/journal/182/PS2

DOI: 10.1007/s00182-023-00863-2

Access Statistics for this article

International Journal of Game Theory is currently edited by Shmuel Zamir, Vijay Krishna and Bernhard von Stengel

More articles in International Journal of Game Theory from Springer, Game Theory Society
Bibliographic data for series maintained by Sonal Shukla (sonal.shukla@springer.com) and Springer Nature Abstracting and Indexing (indexing@springernature.com).

 
Page updated 2024-11-22
Handle: RePEc:spr:jogath:v:52:y:2023:i:4:d:10.1007_s00182-023-00863-2