TY - UNPB
T1 - Games with the Total Bandwagon Property
AU - Honda, Jun
PY - 2015/7/1
Y1 - 2015/7/1
N2 - We consider the class of two-player symmetric n x n games with the total bandwagon property (TBP) introduced by Kandori and Rob (1998). We show that a game has TBP if and only if the game has 2^n - 1 symmetric Nash equilibria. We extend this result to bimatrix games by introducing the generalized TBP. This sheds light on the (wrong) conjecture of Quint and Shubik (1997) that any n x n bimatrix game has at most 2^n - 1 Nash equilibria. As for an equilibrium selection criterion, I show the existence of a ½-dominant equilibrium for two subclasses of games with TBP: (i) supermodular games; (ii) potential games. As an application, we consider the minimum-effort game, which does not satisfy TBP, but is a limit case of TBP. (author's abstract)
AB - We consider the class of two-player symmetric n x n games with the total bandwagon property (TBP) introduced by Kandori and Rob (1998). We show that a game has TBP if and only if the game has 2^n - 1 symmetric Nash equilibria. We extend this result to bimatrix games by introducing the generalized TBP. This sheds light on the (wrong) conjecture of Quint and Shubik (1997) that any n x n bimatrix game has at most 2^n - 1 Nash equilibria. As for an equilibrium selection criterion, I show the existence of a ½-dominant equilibrium for two subclasses of games with TBP: (i) supermodular games; (ii) potential games. As an application, we consider the minimum-effort game, which does not satisfy TBP, but is a limit case of TBP. (author's abstract)
UR - http://www.wu.ac.at/economics/forschung/wp/
U2 - 10.57938/d280c61d-cf0d-4240-a4eb-bac71c518e0e
DO - 10.57938/d280c61d-cf0d-4240-a4eb-bac71c518e0e
M3 - WU Working Paper
T3 - Department of Economics Working Paper Series
BT - Games with the Total Bandwagon Property
PB - WU Vienna University of Economics and Business
CY - Vienna
ER -