Document Type
Discussion Paper
Publication Date
6-1-2017
CFDP Number
2093
CFDP Pages
23
Journal of Economic Literature (JEL) Code(s)
C63, C72, D61
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.
Recommended Citation
Shubik, Martin and Powers, Michael R., "The Best and Worst of All Possible Worlds: Some Crude Evaluations" (2017). Cowles Foundation Discussion Papers. 190.
https://elischolar.library.yale.edu/cowles-discussion-paper-series/190