A Characterization of Melioration in Game Theoretic Frameworks

Jose Apesteguia

No 26/2001, Bonn Econ Discussion Papers from University of Bonn, Bonn Graduate School of Economics (BGSE)

Abstract: The theory of melioration, originally formulated for individual decision-making contexts, is formally extended to a game theoretic framework. This paper proves the existence of a distribution that is a melioration strategy on the part of all players. Further, the question of stability of such a distribution is studied.

Keywords: Bounded Rationality; Melioration; Game Theory; Existence of Equilibrium; Stability (search for similar items in EconPapers)
JEL-codes: C62 C72 (search for similar items in EconPapers)
Date: 2001
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Persistent link: https://EconPapers.repec.org/RePEc:zbw:bonedp:262001

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