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| Title: | | Probabilistic choice in games: Properties of Rosenthal's t-solutions  |
| Authors: | | Voorneveld, Mark |
| Issue Date: | | 2003 |
| Series/Report no.: | | SSE/EFI Working Paper Series in Economics and Finance 542 |
| Abstract: | | In t-solutions, quantal response equilibria based on the linear probability model as introduced in R.W. Rosenthal (1989, Int. J. Game Theory 18, 273-292), choice probabilities are related to the determination of leveling taxes. The set of t-solutions coincides with the set of Nash equilibria of a game with quadratic control costs. Increasing the rationality of the players allows them to successively eliminate higher levels of strictly dominated actions. Moreover, there exists a path of t-solutions linking uniform randomization to Nash equilibrium. |
| Subjects: | | quantal response equilibrium t-solutions linear probability model |
| JEL: | | C72 |
| Document Type: | | Working Paper |
| Appears in Collections: | | SSE/EFI Working Paper Series in Economics and Finance, EFI - The Economic Research Institute, Stockholm School of Economics
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