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> Seem neither Von Neumann nor Morgenstern were impressed by Nash's use of Kakutani fixed-points to come up with equilibrium solutions, they see it as impractic
by digi_owl 10y ago
> Seem neither Von Neumann nor Morgenstern were impressed by Nash's use of Kakutani fixed-points to come up with equilibrium solutions, they see it as impractical and difficult to apply, which it is because it assumes common knowledge of the each player's expected utility.
No wonder that (mainstream) economists likes it then, as they are all about equilibrium and common knowledge of utility.