CFDP 2039R

Michael R. Powers,  Martin Shubik, and Wen Wang, “Expected Worth for 2 × 2 Matrix Games with Variable Grid Sizes” (May 2016, Revised October 2016) [50p, abstract]

Publication Date: October, 2016


We offer a detailed examination of a broad class of 2 x 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