Holding a Group Together: Non-Game Theory Versus Game Theory

A-Tier
Journal: Economic Journal
Year: 2021
Volume: 131
Issue: 638
Pages: 2629-2641

Authors (2)

Score contribution per author:

2.011 = (α=2.01 / 2 authors) × 2.0x A-tier

α: calibrated so average coauthorship-adjusted count equals average raw count

Abstract

Each member of a group chooses a position and has preferences regarding his chosen position. The group’s harmony depends on the profile of chosen positions meeting a specific condition. We analyse a solution concept (Richter and Rubinstein, 2020) based on a permissible set of individual positions, which plays a role analogous to that of prices in competitive equilibrium. Given the permissible set, members choose their most preferred position. The set is tightened if the chosen positions are inharmonious and relaxed if the restrictions are unnecessary. This new equilibrium concept yields more attractive outcomes than does Nash equilibrium in the corresponding game.

Technical Details

RePEc Handle
repec:oup:econjl:v:131:y:2021:i:638:p:2629-2641.
Journal Field
General
Author Count
2
Added to Database
2026-01-29