Bargaining Models
Xiao Li, Yandi Xia
Most materials in the slides are from Kalais paper.
Contents
Introduction
Bargaining model
Nashs bargaining solution
Other solutions
Family of solutions
Proportional solutions
Perfect equilibrium
Contents
Introducti
Common Knowledge
Matthew Mason and Fahad Shaon
Empty Classroom
Image Source
Mutual Knowledge
Suppose each student arrives for a class meeting
knowing that the instructor will be late.
That the instructor will be late is mutual knowledge,
but each student
Fisher Markets
Huseyin Ulusoy and Elmer Salazar
CS6311-004: Game Theory
Huseyin Ulusoy and Elmer Salazar
Fisher Markets
Consensus of Subjective Probabilities: The
Pari-Mutuel Method
Edmund Eisenberg and David Gale
The Rand Corporation and Brown University
Auctions: Types and Equilibrium Strategies
Emrah Cem and Samira Farhin
University of Texas at Dallas
[email protected][email protected]
April 25, 2013
Emrah Cem and Samira Farhin (UTD)
Auctions
April 25, 2013
1 / 58
Overview
1
Common Auctio
Utility Theory
R. Chandrasekaran
,
Much of this is taken from Luce and Raias book and G. Owens book
and this should be thought of as an extract from these references.
Decision making is classied into four types based on who makes the
decision (i)individua
Bimatrix Games
R. Chandrasekaran
,
1
Bimatrix Games
These are two person non-zero-sum games in which each player has nitely
many pure strategies. We call these non-zero-sum games because the interests of the players is not required to be exactly opposed t
Game Theory Presentation Groups, Topics (TBD), and
Dates (TBD):
Group #1: Bargaining Models: Yandi Xia and Xiao Li
Proportional Solutions to Bargaining Situations: Interpersonal Utility
Comparisons, by E. Kalai, Econometrica, 45, #7, (1977), pp. 1623130.
Games with Complete Information
R. Chandrasekaran
,
1
Extensive Forms
A game tree (a rooted tree) consists of a nite set of nodes or vertices, (one
of which is the root) and a set of pairs of nodes called edges. There are
no simple closed loops in this st
Examples
R. Chandrasekaran
,
Example 1 Cournot Competition:
Consider a single commodity and there are n manufacturers. Each manufacturer decides the amount he produces. The price at which this commodity sells depends on the total quantity produced by all
More Equilibrium Concepts
R. Chandrasekaran
,
So far we have considered dominant equilibrium, Nash (Cournot) equilibrium. The former may not exist; there may be many of the latter. So more
concepts have been put forward and we will examine a few of these