In a noncooperative game, a team is a set of players that have identical payoffs. We investigate zero-sum games where a team of several players plays against a single adversary. The team is not regarded as a single player because the team members might not be able to coordinate their actions. In such a game, a certain equilibrium can be selected naturally: the team-maxmin equilibrium. It assure...

We consider an online allocation problem that involves a set P of n players and E m indivisible entities over discrete time steps 1,2,…,τ. At each step t∈[1,τ], for every entity e∈E, there is restriction list Lt(e) prescribes the subset to whom e can be assigned non-negative value vt(e,p) player p∈P. The sets are fixed beforehand. Lt(⋅) values vt(⋅,⋅) given in fashion. An distribution among P, ...

Afriat’s original method of proof is restored by using the minmax theorem.

We consider a multi-objective linear programming model with type-2 fuzzy objectives. The considered model has the flexibility for the user to specify the more general membership functions for objectives to reflect the inherent fuzziness, while being simple and practical. We develop two solution strategies with reasonable computing costs. The additional cost, as compared to the type-1 fuzzy mode...

This paper provides a micro-foundation for approximate incentive compatibility using ambiguity aversion. In particular, we propose novel notion of interim compatibility, local and establish an equivalence between in Bayesian environment exact the presence small degree ambiguity. We then apply our result to implementation efficient allocations. identify two economic settings—including ones which...

We investigate bidders’ and seller’s responses to ambiguity about the number of bidders in the first price auction (FPA) and the second price auction (SPA) with independent private valuations. We model ambiguity aversion using the maxmin expected utility model. We find that bidders prefer the number of bidders to be revealed in the FPA, are indifferent between revealing and concealing in the SP...