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Focal Points in Framed Games : Breaking the Symmetry : Lecture Notes in Economic and Mathematical Systems - Andre Casajus

Focal Points in Framed Games : Breaking the Symmetry

Lecture Notes in Economic and Mathematical Systems

Paperback ISBN: 9783540414063
Number Of Pages: 131

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This book introduces a new rationalistic approach towards the formalization of Schelling's concept of focal points within a general game-theoretic framework. The focus is on focal points as a symmetry-breaking device. Hence, focal points in coordination games can be explained while focal points in bargaining are out of reach. Strategic/extensive games are extended into framed strategic/extensive games (FSGs/FEGs) by adding a structure-frame - which represents the player's perception of their strategies/actions by assigning a multi-demensional label to each strategy/action. A language invariance requirement similar to Harsanyi & Selten's invariance with respect to isomorphisms then ensures a solution's independence from the game theorist's (arbitrary) choice of these labels. In many interesting cases, focal points can be characterized as the unique payoff-dominant language-invariant equilibria of the underlying framed games.

Introductionp. 1
Static Focal Pointsp. 1
Dynamic Focal Pointsp. 6
Static Focal Points in Framed Strategic Gamesp. 9
Examplesp. 10
Harsanyi and Selten's Symmetry Invariance Requirementp. 13
Rationalizing Static Focal Pointsp. 24
Framed Strategic Games (FSGs)p. 38
Focal Points in FSG Representations of VUMGsp. 51
Weak Isomorphisms of Extensive Gamesp. 55
Finite Extensive Games with Perfect Recallp. 58
Invariance with Respect to Weak Isomorphismsp. 67
Strong Isomorphisms of Extensive Gamesp. 83
Traditional Extensive Representations of Strategic Gamesp. 86
Dynamic Focal Points in Framed Extensive Gamesp. 91
Examplesp. 93
Modelling Dynamic Focal Pointsp. 95
Framed Extensive Games (FEGs)p. 107
Modelling Dynamic Focal Points by FEGsp. 109
Conclusionp. 115
Static Focal Points in Framed Strategic Gamesp. 115
Weak Isomorphisms of Extensive Gamesp. 116
Dynamic Focal Points in Framed Extensive Gamesp. 118
Perspectivep. 118
List of Symbols and Abbreviationsp. 121
List of Figuresp. 127
Bibliographyp. 129
Table of Contents provided by Blackwell. All Rights Reserved.

ISBN: 9783540414063
ISBN-10: 3540414061
Series: Lecture Notes in Economic and Mathematical Systems
Audience: General
Format: Paperback
Language: English
Number Of Pages: 131
Publisher: SPRINGER VERLAG GMBH
Country of Publication: DE
Dimensions (cm): 23.39 x 15.6  x 0.84
Weight (kg): 0.22