Is there a term for a game whose pareto optimal solutions and nash equilibria are disjoint?
(e.g. prisoner's dilemma)
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Is there a term for a game whose pareto optimal solutions and nash equilibria are disjoint? (e.g. prisoner's dilemma) |
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The term I often come across is 'inefficient Nash equilibrium' or 'Pareto-inefficient Nash equilibrium'. Here is an older well cited article discussing inefficient NEs: http://www.jstor.org/stable/3690047?seq=1#page_scan_tab_contents Here is the frequency of the term 'inefficient Nash equilibrium' used in scientific papers: https://scholar.google.com/scholar?q=%22Inefficient+Nash+Equilibrium%22&btnG=&hl=en&as_sdt=0%2C5 'Inefficient outcome' is also frequently used to describe NEs that are not Pareto-optimal: https://scholar.google.com/scholar?q=%22Inefficient+outcome%22&btnG=&hl=en&as_sdt=0%2C5 But it has to be put into game-theoretical context and specified that it is NE. |
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