Demonstrating the Possibility of Pareto Inferior Nash Equilibria
Nicolaas J. Vriend, Queen Mary and Westfield College, University of London
Journal of Economic Education, 2000, Vol. 31, No. 4, p. 358-362

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Abstract. A simple classroom game can convince many students that some equilibria of games that many of them consider to be completely `unreasonable' can arise quite naturally.

J.E.L. classification codes. A22, C72

Keywords. Classroom game, Nash equilibrium, Multiplicity, Pareto dominance, Dynamics

Nick Vriend,
Last modified 2012-12-07