Abstract
This study evaluates the importance of accurately modeling strategic threats in complex multilateral conflict-of-interest decision problems. The objective is to improve prescriptive accuracy when cooperative n-person game theory is applied to the analysis of such problems. A competitive experiment compares the von Neumann-Morgenstern characteristic function v and Harsanyi function H in terms of descriptive accuracy. Results indicate that H is significantly more accurate than v. This suggests that strategic threats may be an important factor in modeling cooperative games.
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Disclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.