The Library
Affective interdependence and welfare
Tools
Heifetz, Aviad, Minelli, Enrico and Polemarchakis, H. M. (2023) Affective interdependence and welfare. Working Paper. Coventry: University of Warwick. Department of Economics. Warwick economics research papers series (WERPS) (1450). (Unpublished)
|
PDF
WRAP-affective-interdependence-welfare-Polemarchakis-2023.pdf - Other - Requires a PDF viewer. Download (2270Kb) | Preview |
Official URL: https://warwick.ac.uk/fac/soc/economics/research/w...
Abstract
Purely affective interaction allows the welfare of an individual to depend on her own actions and on the profile of welfare levels of others. Under an assumption on the structure of mutual affection that we interpret as nonexplosive mutual affection, we show that equilibria of simultaneous-move affective interaction are Pareto optimal independently of whether or not an induced standard game exists. Moreover, if purely affective interaction induces a standard game, then an equilibrium profile of actions is a Nash equilibrium of the game, and this Nash equilibrium and Pareto optimal profile of strategies is locally dominan.
Item Type: | Working or Discussion Paper (Working Paper) | ||||||
---|---|---|---|---|---|---|---|
Subjects: | H Social Sciences > HB Economic Theory | ||||||
Divisions: | Faculty of Social Sciences > Economics | ||||||
Library of Congress Subject Headings (LCSH): | Welfare economics, Equilibrium (Economics), Game theory | ||||||
Series Name: | Warwick economics research papers series (WERPS) | ||||||
Publisher: | University of Warwick. Department of Economics | ||||||
Place of Publication: | Coventry | ||||||
ISSN: | 0083-7350 | ||||||
Official Date: | February 2023 | ||||||
Dates: |
|
||||||
Number: | 1450 | ||||||
Institution: | University of Warwick | ||||||
Status: | Not Peer Reviewed | ||||||
Publication Status: | Unpublished | ||||||
Access rights to Published version: | Free Access (unspecified licence, 'bronze OA') | ||||||
Description: | This paper also appears as CRETA Discussion paper 76 |
||||||
Open Access Version: |
Request changes or add full text files to a record
Repository staff actions (login required)
View Item |