Plenary
Lecture
Equilibria of the games in choice form
Professor Massimiliano Ferrara
Dept. SSGES
University Mediterranea of Reggio Calabria
ITALY
E-mail:
massimiliano.ferrara@unirc.it
Abstract: Since in a noncooperative game the players
are not allowed to make commitments, any solution should
be self-enforcing i.e. once it is agreed upon, nobody is
interested to deviate. The Nash equilibrium (equilibrium
point) is the most important solution concept of the
noncooperative game theory and it is defined in terms of
the normal form of a game, as a strategy combination
with the property that no player can gain by
unilaterally deviating from it. In the original
definition of J.F.Nash, the players options were
expressed by utility functions de.ned on the product of
the individual strategy spaces, and the most significant
existence results refer to this formalization. Later,
the original definition was extended to cover more
general situations met in the noncooperative
competitions. This is the case of the equilibrium of
abstract economies (Shafer and Sonnenschein, where the
individual preferences are represented as
correspondences. Particularly, such correspondences can
be derived from the normal form of a game, but as
primary elements of the model they generalize the
earlier representations of individual preferences.
Motivated by the problem of the implementation in
noncooperative solutions of the voting operators, a new
concept of equilibrium, called Nash equilibrium in
choice form, has been introduced (Stefanescu and
Ferrara). Rephrased in terms of game strategies and
renamed as equilibrium in choice, this concept is
discussed in the present paper. The formal framework for
the definition of equilibria in choice is the game in
choice form, represented as the family of the sets of
individual strategies and a choice profile. Intuitively,
a choice profile speci.es the desirable outputs of each
player, and since each output of the game is associated
to a game strategy, it can be represented as a
collection of subsets of the set of all game strategies.
Particularly, when the players options are represented
by utility functions or by preference relations, a
choice profile may be the family of the graphs of
players best reply mappings, and then the set of
equilibria in choice coincides with the set of Nash
equilibria. So that, the definition of the equilibrium
in choice captures the main idea of the "best reply"
from the definition of the Nash equilibrium, but the new
concept is more general, responding to various
representations of the players options. Two variants of
this concept are proposed here. The basic one presumes a
relaxation of the best reply principle and has obvious
counterparts for classical solutions, if this relaxation
is accepted. The stronger form of the equilibrium in
choice can be considered as a generic notion of
noncooperative solution and several usual versions of
such solutions are produced when the choice profile is
designed indifferent particular ways.
Brief Biography of the Speaker:
Massimiliano Ferrara is Professor of Mathematical
Economics at "Mediterranea" University of Reggio
Calabria where he was also Dean of the degree in
Economics. Actually he is the Director of Culture,
Education, Research and University Department at Regione
Calabria. He was the Founder and Director of MEDAlics
and Vice Rector at "Dante Alighieri" University of
Reggio Calabria. He was also Visiting Professor at
Harvard University, Cambridge (USA), Morgan State
University in Baltimore (USA), Western Michigan
University (USA), New Jersey Institute of Technology in
Newark (NJ) (USA). He was a speaker at several WSEAS
international conferences. He is editor of several
international journals: Advances in Management and
Applied Economics (AMAE), African Journal of Science,
Technology, Innovation and Development Applied Sciences
(APPS), International Journal of Functional Analysis,
Operator Theory and Applications (IJFAOTA), Far East
Journal of Mathematical Sciences (FJMS), Journal of
Indian Academy of Mathematics (Jiam), Journal of the
Calcutta Mathematical Society and Universal Journal of
Mathematics and Mathematical Sciences. His main research
interests are: dynamical systems, patterns of growth and
sustainable development, mathematical economics, game
theory, optimization theory, applied Economics.
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