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Natural Justice$
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Ken Binmore

Print publication date: 2005

Print ISBN-13: 9780195178111

Published to Oxford Scholarship Online: January 2007

DOI: 10.1093/acprof:oso/9780195178111.001.0001

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Equilibrium

Equilibrium

Chapter:
(p.57) Chapter 4 Equilibrium
Source:
Natural Justice
Author(s):

Ken Binmore (Contributor Webpage)

Publisher:
Oxford University Press
DOI:10.1093/acprof:oso/9780195178111.003.0004

After demolishing metaphysical notions of moral behavior, John Mackie's Inventing Right and Wrong argues that the way forward is through the study of anthropology and game theory. This chapter begins a review of the basic ideas of game theory by explaining both the rational and the evolutionary interpretation of Nash equilibria in various games, including the Prisoners' Dilemma, the Stag Hunt Game, the Ultimatum Game, the Centipede Game, and the Nash Demand Game.

Keywords:   game theory, Nash equilibrium, evolutionary stability, mixed strategies, Prisoners' Dilemma, Stag Hunt Game, Ultimatum Game, subgame-perfect equilibrium, Centipede Game, Nash Demand Game

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