Computation of efficient nash equilibria for experimental economic games
Journal: International Journal of Mathematics and Soft Computing (Vol.5, No. 2)Publication Date: 2015.07.10
Authors : Rhoda Ong'awa Esilaba; Edgar O Otumba; Alfred W Manyonge;
Page : 197-212
Keywords : Game Theory; Experimental Economic Games; Nash Equilibrium.;
Abstract
Nash equilibrium is the central solution concept with diverse applications for most games in game theory. For games with multiple equilibria, different equilibria can have different rewards for the players thus causing a challenge on their choice of strategies. The computation of most efficient Nash Equilibrium in games can be applied to most situations in competitive Economic environment that are faced with multiple choices on which strategy is optimal.
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