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Slightly Altruistic Equilibria

Giuseppe De Marco and Jacqueline Morgan ()

Journal of Optimization Theory and Applications, 2008, vol. 137, issue 2, No 6, 347-362

Abstract: Abstract We introduce a refinement concept for Nash equilibria (slightly altruistic equilibrium) defined by a limit process and which captures the idea of reciprocal altruism as presented in Binmore (Proceedings of the XV Italian Meeting on Game Theory and Applications, [2003]). Existence is guaranteed for every finite game and for a large class of games with a continuum of strategies. Results and examples emphasize the (lack of) connections with classical refinement concepts. Finally, it is shown that, under a pseudomonotonicity assumption on a particular operator associated to the game, it is possible, by selecting slightly altruistic equilibria, to eliminate those equilibria in which a player can switch to a strategy that is better for the others without leaving the set of equilibria.

Keywords: Nash equilibrium; Refinements; Altruistic behavior; Friendliness; Pseudomonotone operators (search for similar items in EconPapers)
Date: 2008
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Handle: RePEc:spr:joptap:v:137:y:2008:i:2:d:10.1007_s10957-008-9353-y