Cooperation and self-interest: Pareto-inefficiency of Nash equilibria in finite random games.

@article{Cohen1998CooperationAS,
  title={Cooperation and self-interest: Pareto-inefficiency of Nash equilibria in finite random games.},
  author={Joel E. Cohen},
  journal={Proceedings of the National Academy of Sciences of the United States of America},
  year={1998},
  volume={95 17},
  pages={9724-31}
}
  • Joel E. Cohen
  • Published 1998 in
    Proceedings of the National Academy of Sciences…
The relative merits of cooperation and self-interest in an ensemble of strategic interactions can be investigated by using finite random games. In finite random games, finitely many players have finite numbers of actions and independently and identically distributed (iid) random payoffs with continuous distribution functions. In each realization, players are shown the values of all payoffs and then choose their strategies simultaneously. Noncooperative self-interest is modeled by Nash… CONTINUE READING
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