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Social Choice and Welfare
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Social Choice and Welfare
Article . 2011 . Peer-reviewed
License: Springer TDM
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Research . 2010
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A new old solution for weak tournaments

Authors: Vincent Anesi;

A new old solution for weak tournaments

Abstract

This note uncovers new properties of the von Neumann-Morgenstern solution in weak tournaments and majoritarian games. We propose a new procedure for the construction of choice sets from weak tournaments, based on dynamic stability criteria. The idea is to analyze dynamic versions of the tournament game introduced by Laffond, Laslier and Le Breton (1993) [The bipartisan set of a tournament game. Games and Economic Behavior 5, 182-201]. The exploration of a specific class of Markov perfect equilibria in these "dynamic tournament games" yields a new solution concept for weak tournaments - the A-stable set. The alternatives in an A-stable set constitute persistent, long-run policy outcomes in the corresponding dynamic tournament games. We find that, in any weak tournament, the class of A-stable sets coincides with that of von Neumann-Morgenstern stable sets.

Related Organizations
Keywords

Dynamisches Spiel, : Systèmes économiques & économie publique [B14] [Sciences économiques & de gestion], Spieltheorie, ddc:330, weak tournament, stationary Markov equilibrium, : Economic systems & public economics [B14] [Business & economic sciences], C71, solution theory, C73, D72, Electoral competition, stable set, stationary Markov equilibrium, weak tournament, solution theory, electoral competition, stable set, jel: jel:C71, jel: jel:C73, jel: jel:D72

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citations
This is an alternative to the "Influence" indicator, which also reflects the overall/total impact of an article in the research community at large, based on the underlying citation network (diachronically).
BIP!Citations provided by BIP!
popularity
This indicator reflects the "current" impact/attention (the "hype") of an article in the research community at large, based on the underlying citation network.
BIP!Popularity provided by BIP!
influence
This indicator reflects the overall/total impact of an article in the research community at large, based on the underlying citation network (diachronically).
BIP!Influence provided by BIP!
impulse
This indicator reflects the initial momentum of an article directly after its publication, based on the underlying citation network.
BIP!Impulse provided by BIP!
7
Average
Average
Average
Green
hybrid