It is well known that the rock-paper-scissors game has no pure saddle point. We show that this holds more generally: A symmetric two-player zero-sum game has a pure saddle point if and only if it is not a generalized rock-paper-scissors game. Moreover, we show that every finite symmetric quasiconcave two-player zero-sum game has a pure saddle point. Further sufficient conditions for existence are provided. We apply our theory to a rich collection of examples by noting that the class of symmetric two-player zero-sum games coincides with the class of relative payoff games associated with symmetric two-player games. This allows us to derive results on the existence of a finite population evolutionary stable strategies.
|Item Type:||Working paper|
|Date Deposited:||30 Mar 2010 16:09|
|Faculties / Institutes:||The Faculty of Economics and Social Studies > Alfred-Weber-Institut for Economics|
|Uncontrolled Keywords:||Symmetric two-player games , zero-sum games , Rock-Paper-Scissors , single-peakedness , quasiconcavity|
|Schriftenreihe ID:||Discussion Paper Series / University of Heidelberg, Department of Economics|