KR Invited Speaker
Joe Halpern, Cornell University
Nash equilibrium is the most commonly-used notion of equilibrium in game
theory. However, it suffers from numerous problems. Some are well known
in the game theory community; for example, the Nash equilibrium of repeated
prisoner's dilemma is neither normatively nor descriptively reasonable.
However, new problems arise when considering Nash equilibrium from a
computer science perspective: for example, Nash equilibrium is not robust
(it does not tolerate "faulty" or "unexpected" behavior), it does not
deal with coalitions, it does not take computation cost into account, and
it does not deal with cases where players are not aware of all aspects of
the game. Solution concepts that try to address these shortcomings of Nash
equilibrium are discussed.