This paper attempts to define a new solution concept for n-person noncooperative games. The idea of it is close to that of the von Neumann-Morgenstern stable set, more precisely, is based on their 'standards of behavior' interpretation of the stable set. This new approach enables us to consider new interesting problems of information. Further this approach gives us a plausible interpretation of the Nash equilibrium concept. This paper provides the definition and considers certain general properties of our solution concept. Further we consider our solution concept for zero-sum two-person games, the prisoner's dilemma, the battle of the sexes and several simple games with a continuum of players.
ASJC Scopus subject areas
- Statistics, Probability and Uncertainty
- Economics and Econometrics