A minimally altruistic refinement of Nash equilibrium
Date
2013
Authors
Karagözoǧlu, E.
Keskin, K.
Saǧlam, Ç.
Advisor
Instructor
Source Title
Mathematical Social Sciences
Print ISSN
0165-4896
Electronic ISSN
Publisher
Elsevier
Volume
66
Issue
3
Pages
422 - 430
Language
English
Type
Article
Journal Title
Journal ISSN
Volume Title
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.