CFDP 2093

The Best and Worst of All Possible Worlds: Some Crude Evaluations

Author(s): 

Publication Date: June 2017

Pages: 23

Abstract: 

The 2 x 2 matrix game plays a central role in the teaching and exposition of game theory. It is also the source of much experimentation and research in political science, social psychology, biology and other disciplines. This brief paper is addressed to answering one intuitively simple question without going into the many subtle qualifications that are there. How efficient is the non-cooperative equilibrium? This is part of a series of several papers that address many of the qualifications concerning the uses of the 2 x 2 matrix games.

Keywords: 

2x2 matrix games, Index

JEL Classification Codes: C63, C72, D61

JEL Classification Codes: C63C72D61