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Rod Garratt and Cheng-Zhong Qin
 
''On potential maximization as a refinement of Nash equilibrium''
( 2003, Vol. 3 No.12 )
 
 
We specify an adjustment process that converges to the set of potential-maximizing strategy profiles for 3-player cooperation-formation games or n-player cooperation-formation games based on a superadditive characteristic function. Our analysis provides a justification for potential maximization as a refinement of Nash equilibrium in these settings.
 
 
Keywords: adjustment process.
JEL: C7 - Game Theory and Bargaining Theory:General
 
Manuscript Received : Jun 25 2003 Manuscript Accepted : Jun 25 2003

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