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- Risk_dominance abstract "Risk dominance and payoff dominance are two related refinements of the Nash equilibrium (NE) solution concept in game theory, defined by John Harsanyi and Reinhard Selten. A Nash equilibrium is considered payoff dominant if it is Pareto superior to all other Nash equilibria in the game. When faced with a choice among equilibria, all players would agree on the payoff dominant equilibrium since it offers to each player at least as much payoff as the other Nash equilibria. Conversely, a Nash equilibrium is considered risk dominant if it has the largest basin of attraction (i.e. is less risky). This implies that the more uncertainty players have about the actions of the other player(s), the more likely they will choose the strategy corresponding to it. The payoff matrix in Figure 1 provides a simple two-player, two-strategy example of a game with two pure Nash equilibria. The strategy pair (Hunt, Hunt) is payoff dominant since payoffs are higher for both players compared to the other pure NE, (Gather, Gather). On the other hand, (Gather, Gather) risk dominates (Hunt, Hunt) since if uncertainty exists about the other player's action, gathering will provide a higher expected payoff. The game in Figure 1 is a well-known game-theoretic dilemma called stag hunt. The rationale behind it is that communal action (hunting) yields a higher return if all players combine their skills, but if it is unknown whether the other player helps in hunting, gathering might turn out to be the better individual strategy for food provision, since it does not depend on coordinating with the other player. In addition, gathering alone is preferred to gathering in competition with others. Like the Prisoner's dilemma, it provides a reason why collective action might fail in the absence of credible commitments.".
- Risk_dominance wikiPageExternalLink v_3A61_3Ay_3A1993_3Ai_3A1_3Ap_3A29-56.htm.
- Risk_dominance wikiPageExternalLink v_3a61_3ay_3a1993_3ai_3a1_3ap_3a57-84.htm.
- Risk_dominance wikiPageID "9292690".
- Risk_dominance wikiPageRevisionID "542875320".
- Risk_dominance 1d "G".
- Risk_dominance 1d "Gather".
- Risk_dominance 1u "H".
- Risk_dominance 1u "Hunt".
- Risk_dominance 2l "H".
- Risk_dominance 2l "Hunt".
- Risk_dominance 2r "G".
- Risk_dominance 2r "Gather".
- Risk_dominance discoverer John_Harsanyi.
- Risk_dominance discoverer Reinhard_Selten.
- Risk_dominance dl "40".
- Risk_dominance dl "B, c".
- Risk_dominance dr "22".
- Risk_dominance dr "D, d".
- Risk_dominance example Stag_hunt.
- Risk_dominance float "none".
- Risk_dominance hasPhotoCollection Risk_dominance.
- Risk_dominance name "Fig. 1: Stag hunt example".
- Risk_dominance name "Fig. 2: Generic coordination game".
- Risk_dominance name "Payoff dominance".
- Risk_dominance name "Risk dominance".
- Risk_dominance subsetof Nash_equilibrium.
- Risk_dominance ul "55".
- Risk_dominance ul "A, a".
- Risk_dominance ur "4".
- Risk_dominance ur "C, b".
- Risk_dominance usedfor "Non-cooperative games".
- Risk_dominance subject Category:Evolutionary_game_theory.
- Risk_dominance subject Category:Game_theory.
- Risk_dominance type Abstraction100002137.
- Risk_dominance type Attribute100024264.
- Risk_dominance type Equilibrium113934900.
- Risk_dominance type Situation113927383.
- Risk_dominance type State100024720.
- Risk_dominance comment "Risk dominance and payoff dominance are two related refinements of the Nash equilibrium (NE) solution concept in game theory, defined by John Harsanyi and Reinhard Selten. A Nash equilibrium is considered payoff dominant if it is Pareto superior to all other Nash equilibria in the game. When faced with a choice among equilibria, all players would agree on the payoff dominant equilibrium since it offers to each player at least as much payoff as the other Nash equilibria.".
- Risk_dominance label "Recompensa dominante".
- Risk_dominance label "Risk dominance".
- Risk_dominance label "Доминирование по риску".
- Risk_dominance sameAs Recompensa_dominante.
- Risk_dominance sameAs m.0283c87.
- Risk_dominance sameAs Q2039354.
- Risk_dominance sameAs Q2039354.
- Risk_dominance sameAs Risk_dominance.
- Risk_dominance wasDerivedFrom Risk_dominance?oldid=542875320.
- Risk_dominance isPrimaryTopicOf Risk_dominance.