Journal
ECONOMICS LETTERS
Volume 115, Issue 3, Pages 401-403Publisher
ELSEVIER SCIENCE SA
DOI: 10.1016/j.econlet.2011.12.098
Keywords
Cycle; Nash equilibrium; Prudent strategy
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The present work characterizes the unique Nash equilibrium for games that are based on a cyclic preference relation. In the Nash equilibrium of these games, each player randomizes between three specific actions. In particular, an alternative way of deriving the unique Nash equilibrium of the rock-paper-scissors game is proposed. (C) 2011 Elsevier B.V. All rights reserved.
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