UT Arlington Faculty: Bill Corley, Irinel Dragan
Ph.D. Students: Phantipa Insuwan (2007), Narakorn Engsuwan (2013), Ahmad Nahhas (2017)
Topics: New equilibria for noncooperative games, new solutions for cooperative games, satisficing games
Description: Game theory is the study of strategic interactions among game players. It determines the outcomes of games, if players behave in a rational manner, usually interpreted as acting selfishly. In general, each player evaluates the outcomes of the game resulting from his and the other players’ actions, then chooses the actions that will give him a “best” reward according to his personal interpretation of “best.” COSMOS has developed an alternative to the Nash Equilibrium, which is regarded as the fundamental solution concept in game theory. This new equilibrium is complementary to the Nash Equilibrium and enforces an implicit cooperative property. It provides an interpretation to the famous Prisoner’s Dilemma paradox, resolves some important issues in game theory, and opens up new directions of research in the field.
- Insuwan, P. and H.W. Corley. “A Non-Nash Equilibrium for 2-Person Noncooperative Games,” European Journal of Operational Research. In revision.
- Corley, H.W. and P. Insuwan. “A Non-Nash Equilibrium for N-Person Noncooperative Games,” Games and Economic Behavior. In revision.