Games Unleash Chaos: Multiple Outcomes, Unstable Strategies, and Sunspot Vulnerability Revealed
The article shows that in certain games, when players' strategies are very responsive to each other, it can lead to multiple equilibria where no player wants to change their strategy. This can happen even if the games are not supermodular. The study suggests that this phenomenon of multiple equilibria, instability, and vulnerability to random factors (sunspots) can be seen in various economic and game scenarios, hinting at a common underlying connection between different decision-making problems.