CFDP 2039

Michael R. Powers,  Martin Shubik, and Wen Wang, “Expected Worth for 2 × 2 Matrix Games with Variable Grid Sizes” (May 2016) [64p, abstract]


Abstract: 

We offer a detailed examination of a broad class of 2 × 2 matrix games as a first step toward considering measures of resource distribution and efficiency of outcomes. In the present essay, only noncooperative equilibria and entropic outcomes are considered, and a crude measure of efficiency employed. Other solution concepts and the formal construction of an efficiency index will be addressed in a companion paper.
 
Keywords: 2 × 2 matrix games, efficiency, coordination, worth of coordination

JEL Classification: C63, C72, D61