A minimally altruistic refinement of Nash equilibrium

Date

2013

Authors

Karagözoǧlu, E.
Keskin, K.
Saǧlam, Ç.

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Source Title

Mathematical Social Sciences

Print ISSN

0165-4896

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Publisher

Elsevier

Volume

66

Issue

3

Pages

422 - 430

Language

English

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Abstract

We introduce a minimal notion of altruism and use it to refine Nash equilibria in normal form games. We provide three independent existence proofs, relate minimally altruistic Nash equilibrium to other equilibrium concepts, conduct an in-depth sensitivity analysis, and provide examples where minimally altruistic Nash equilibrium leads to improved predictions.

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Published Version (Please cite this version)