Slightly Altruistic Equilibria in Normal Form Games

Giuseppe De Marco and Jacqueline Morgan

CSEF Working Papers from Centre for Studies in Economics and Finance (CSEF), University of Naples, Italy

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 (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 pseudo-monotonicity 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.

Date: 2007-10-01
New Economics Papers: this item is included in nep-cbe and nep-gth
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Citations: View citations in EconPapers (2)

Published in Journal of Optimization Theory and Applications, 2008, 137(2), 347-362

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Persistent link: https://EconPapers.repec.org/RePEc:sef:csefwp:185

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