Implementing and Solving Games with Best Payoff Method

Implementing and Solving Games with Best Payoff Method

In this chapter, it is our goal to suggest and discuss the Best Payoff Method, a new game resolution method. This is exemplified by applying the method to a pay raise voting game, which is a perfect sequential game of knowledge, without having yet formulated it, and then implementing the algorithm for its implementation. In the following examples, an incomplete knowledge game and a game with random features are considered. By formulating some conjectures and with a brief section of conclusions, we finish confronting the equilibrium concepts described in this work: Subgame Perfect Nash Equilibrium, Nash Equilibrium, and Best Payoff Equilibrium.

Author (s) Details

Manuel Alberto M. Ferreira
Instituto Universitário de Lisboa (ISCTE – IUL), ISTAR-IUL, BRU – IUL Portugal

Maria Cristina Peixoto Matos
Instituto Politécnico de Viseu (IPV), Escola Superior de Tecnologia e Gestão de Viseu (ESTGV), CI&DETS Portugal.

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