An axiomatic approach to Minimax and Pareto Optimal Security Payoffs in Multi-criteria Games

• Autores: Justo Puerto Albandoz , Francisco Ramón Fernández García
• Localización: XXX Congreso Nacional de Estadística e Investigación Operativa y de las IV Jornadas de Estadística Pública: actas, 2007, ISBN 978-84-690-7249-3
• Idioma: inglés
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• Resumen

  • In this paper we provide axiomatic foundations for the minimax and Paretooptimal security payoffs of zero-sum multicriteria matrix games. Our axioms are similar to the ones that have been used in the corresponding counterparts in the single criterion case, although they need to be complemented with two new consistency axioms. Whereas in standard single criterion games, it is well-known that minimax and optimal security payoffs coincide, whenever we have multiple criteria these two solution concepts differ. We provide, based on the axiomatic system, explanations for the common roots of these two concepts and which is more important, we highlight the intrinsic differences between them.