Monotonicity and Bracketing in Games

TL;DR

This paper characterizes solution concepts like Nash and logit equilibria in normal-form games, incorporating non-expected utility and players' responsiveness to payoffs, with implications for simultaneous game play.

Contribution

It provides a unified axiomatic framework for Nash and logit equilibria, extending to non-expected utility scenarios and multiple simultaneous games.

Findings

Characterization of Nash equilibria

Extension to logit quantal response equilibria

Inclusion of non-expected utility considerations

Abstract

We study solution concepts for normal-form games. We obtain a characterization of Nash equilibria and logit quantal response equilibria, as well as generalizations capturing non-expected utility. Our axioms reflect that players are responsive to payoffs induced by the play of others and, whenever several games are played simultaneously, players may consider each separately.