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shoin0724
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We have observed that both participants in the bike-selling game are better off if they make the transaction. This is the basis for one solution concept in cooperative games.First, we define a criterion to rank outcomes from the point of view of the group of players as a whole. We can say that one outcome is better than another (upper left better than lower right, e.g) if at least one person is better off and no-one is worse off. This is called the Pareto criterion, after the Italian economist and mechanical engineer, Vilfredo Pareto. If an outcome (such as the upper left) cannot be improved upon, in that sense -- in other words, if no-one can be made better off without making somebody else worse off -- then we say that the outcome is Pareto Optimal, that is, Optimal (cannot be improved upon) in terms of the Pareto Criterion.If there were a unique Pareto optimal outcome for a cooperative game, that would seem to be a good solution concept. The problem is that there isn't -- in general, there are infinitely many Pareto Optima for any fairly complicated economic "game." In the bike-selling example, every cell in the table except the lower right is Pareto-optimal, and in fact any price between $80 and $100 would give yet another of the (infinitely many) Pareto-Optimal outcomes to this game. All the same, this was the solution criterion that von Neumann and Morgenstern used, and the set of all Pareto-Optimal outcomes is called the "solution set."
2007年02月05日 17点02分
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