A tragedy with many players

Behavioral conformity in games with many players

In the literature of psychology and economics it is frequently observed that individuals tend to conform in their behavior to the behavior of similar individuals. A fundamental question is whether the outcome of such behavior can be consistent with self-interest. We propose that this consistency requires the existence of a Nash or approximate Nash equilibrium that induces a partition of the pla...

Inference for Games with Many Players

We develop an asymptotic theory for static discrete games (“markets”) with a large number of players, and propose a novel approach to inference based on stochastic expansions around a “competitive” limit of the finite-player game. We show that in the limit, players’ equilibrium actions in a given market can be represented as a mixture of i.i.d. random variables, where for common specifications ...

Non-Cooperative Games with Many Players∗

Many players , few participants ∗

We derive equilibrium properties of participation in a large family of economic games that take place when players’ information is incomplete. The fact that participation is almost always costly introduces a crucial distinction between players and participants. The number of players is exogenous but the number, or distribution, of participants is part of equilibrium. We assume a quite general s...

Values of Games with Infinitely Many Players

∗Institute of Mathematics; and Center for Rationality and Interactive Decision Theory; The Hebrew University of Jerusalem; Givat Ram; Jerusalem 91904; Israel. E-mail: [email protected] This research was in part supported by The Israel Science Foundation grant 382/98. J.E.L. Classification numbers. D70, D71, D63, C71