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Author : Philip J. Reny
Publisher :
ISBN 13 :
Total Pages : 12 pages
Book Rating : 4.:/5 (343 download)
Download or read book Local Payoff Security and the Existence of Nash Equilibrium in Discontinuous Games written by Philip J. Reny and published by . This book was released on 1995 with total page 12 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Guilherme Carmona
Publisher : World Scientific
ISBN 13 : 9814390658
Total Pages : 153 pages
Book Rating : 4.8/5 (143 download)
Download or read book Existence and Stability of Nash Equilibrium written by Guilherme Carmona and published by World Scientific. This book was released on 2013 with total page 153 pages. Available in PDF, EPUB and Kindle. Book excerpt: The book aims at describing the recent developments in the existence and stability of Nash equilibrium. The two topics are central to game theory and economics and have been extensively researched. Recent results on existence and stability of Nash equilibrium are scattered and the relationship between them has not been explained clearly. The book will make these results easily accessible and understandable to researchers in the field. Book jacket.
Author : Guilherme Carmona
Publisher : World Scientific
ISBN 13 : 9814390666
Total Pages : 153 pages
Book Rating : 4.8/5 (143 download)
Download or read book Existence and Stability of Nash Equilibrium written by Guilherme Carmona and published by World Scientific. This book was released on 2012 with total page 153 pages. Available in PDF, EPUB and Kindle. Book excerpt: The book aims at describing the recent developments in the existence and stability of Nash equilibrium. The two topics are central to game theory and economics and have been extensively researched. Recent results on existence and stability of Nash equilibrium are scattered and the relationship between them has not been explained clearly. The book will make these results easily accessible and understandable to researchers in the field.
Author : Matthew O. Jackson
Publisher : Springer Science & Business Media
ISBN 13 : 3540740570
Total Pages : 541 pages
Book Rating : 4.5/5 (47 download)
Download or read book Foundations in Microeconomic Theory written by Matthew O. Jackson and published by Springer Science & Business Media. This book was released on 2008-11-30 with total page 541 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume collects papers from Hugo Sonnenschein's students. It aims to demonstrate his tremendous impact as an advisor. The papers span decades and present some of the most important articles in microeconomic theory. Each paper is accompanied with a preface by the student providing background on the paper and indicating Hugo's influence on its genesis. The papers all lie in microeconomic theory, and moreover all make fundamental contributions to the foundations of the theory.
Author : Christian Ewerhart
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (133 download)
Download or read book Diagonal Payoff Security and Equilibrium Existence in Quasi-symmetric Discontinuous Games written by Christian Ewerhart and published by . This book was released on 2022 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Previous evidence shows that better insurance coverage increases medical expenditure. However, formal studies on the effect of spending on health outcomes, and especially mental health, are lacking. To fill this gap, we reanalyze data from the Rand Health Insurance Experiment and estimate a joint non-linear model of spending and mental health. We address the endogeneity of spending in a flexible copula regression model with Bernoulli and Tweedie margins and discuss its implementation in the freely available GJRM R package. Results confirm the importance of accounting for endogeneity: in the joint model, a $1000 spending in mental care is estimated to reduce the probability of low mental health by 1.3 percentage points, but this effect is not statistically significant. Ignoring endogeneity leads to a spurious (upwardly biased) estimate.Payoff security combined with reciprocal upper semicontinuity is sufficient for better-reply security, and consequently for the existence of a pure strategy Nash equilibrium in compact, quasiconcave games by Reny's (1999) theorem. Analogously, diagonal payoff security combined with upper semicontinuity of the diagonal payoff function has been widely understood to be sufficient for diagonal better-reply security, and consequently for the existence of a symmetric pure strategy Nash equilibrium in compact, diagonally quasiconcave, quasi-symmetric games. We show by example that this is incorrect. Specifically, diagonal better-reply security may fail to hold, and a symmetric pure strategy equilibrium may fail to exist, if some player's payoff function lacks lower semicontinuity, with respect to the opponents' symmetric strategy profile, at all strategy profiles reached from a non-equilibrium profile on the diagonal by a unilateral better response of that player. These difficulties disappear, both in the game and in its mixed extension, if the lower bound on a player's payoff in the definition of diagonal payoff security is raised to reflect the higher levels that arbitrary better responses may achieve. We also discuss the relationship between our strengthened condition and diagonal payoff security.
Author : Robert J. Aumann
Publisher : American Mathematical Soc.
ISBN 13 : 9780821805251
Total Pages : 306 pages
Book Rating : 4.8/5 (52 download)
Download or read book Topics in Mathematical Economics and Game Theory written by Robert J. Aumann and published by American Mathematical Soc.. This book was released on 1999 with total page 306 pages. Available in PDF, EPUB and Kindle. Book excerpt: Since the publication of "Theory of Games and Economic Behavior" by von Neumann and Morgenstern, the concept of games has played an increasing role in economics. It also plays a role of growing importance in other sciences, including biology, political science, and psychology. Many scientists have made seminal advances and continue to be leaders in the field, including Harsanyi, Shapley, Shubik, and Selten. Professor Robert Aumann, in addition to his important contributions to game theory and economics, made a number of significant contributions to mathematics. This volume provides a collection of essays in mathematical economics and game theory, including cutting-edge research on noncooperative game theory and its foundations, bargaining theory, and general equilibrium theory. Also included is a reprint of Aumann's classic paper, "Acceptable Points in General Cooperative n-Person Games" and of the oft-cited, yet hard to find, paper by Maschler, "The Worth of a Cooperative Enterprise to Each Member". This book illustrates the wide range of applications of mathematics to economics, game theory, and social choice. The volume is dedicated to Professor Robert J. Aumann, Hebrew University, Jerusalem, Israel, for his contributions in mathematics and social sciences.
Author : Pavlo Prokopovych
Publisher :
ISBN 13 :
Total Pages : 35 pages
Book Rating : 4.:/5 (13 download)
Download or read book On the Existence of Mixed Strategy Nash Equilibria written by Pavlo Prokopovych and published by . This book was released on 2013 with total page 35 pages. Available in PDF, EPUB and Kindle. Book excerpt: The focus of this paper is on developing geometric sufficient conditions for the existence of a mixed strategy Nash equilibrium for both diagonally transfer continuous and better-reply secure games. First, we show that employing the concept of diagonal transfer continuity in place of better-reply security might be advantageous when the existence of a mixed strategy Nash equilibrium is concerned. Then, we study equilibrium existence in better-reply secure games possessing a payoff secure mixed extension. With the aid of an example we show that such games need not have mixed strategy Nash equilibria. We provide some easily verifiable conditions for the mixed extension of a two-person game that is reciprocally upper semicontinuous and uniformly payoff secure to be better-reply secure.
Author : Rupert Gatti
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (137 download)
Download or read book A Note on the Existence of Nash Equilibrium in Games with Discontinuous Payoffs written by Rupert Gatti and published by . This book was released on 2005 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper generalises the approach taken by Dasgupta & Maskin (1986) and Simon (1989) and provides necessary and sufficient conditions for the existence of pure and mixed strategy Nash equilibrium in games with continuous strategy spaces and discontinuous payoff functions. The conditions can be applied widely, and examples for existence of pure strategy and monotonic equilibria in First-Price auctions are provided. The conditions are also appropriate for ensuring that computer generated equilibrium solutions can be extended to continuous strategy spaces.
Author : Idione Meneghel
Publisher :
ISBN 13 :
Total Pages : 35 pages
Book Rating : 4.:/5 (923 download)
Download or read book Essays on the Existence of Equilibria in Games written by Idione Meneghel and published by . This book was released on 2013 with total page 35 pages. Available in PDF, EPUB and Kindle. Book excerpt: "The question of existence of a Nash equilibrium is one of the most important questions in game theory. This thesis aims to advance our understanding of the question in two broad directions: 1) by providing weaker sets of sufficient conditions; and 2) by introducing novel techniques, which allow for straightforward proofs and results that give new economic insights. Discontinuous games: This project considers the existence problem in games in which strategy sets are compact and convex, but preferences of the players are represented by numerical functions that may not be continuous. One way to show existence of equilibrium in such games is to apply the 'better reply security' logic, introduced by Reny (1999), combined with some form of quasiconcavity of utility functions. As long as players have securing strategies that are robust to other players' small deviations, one can show that the game has an equilibrium. The novelty of the techniques used relies in combining three main ideas: 1) a local continuous selection of each player's strict upper contour set; 2) the idea of activating different players locally; and 3) a weak notion of convexity of preferences. Bayesian games: Games of incomplete information have been shown to apply to a huge variety of economic, political and other social interactions. Still, the question of existence of equilibria in such games has been largely dealt with on a case-by-case basis. That is, given a particular game with incomplete information, one has to find the equilibrium to prove that it exists. The reason is that the usual tools to prove existence (continuous and quasiconcave payoffs defined on convex and compact strategy sets) do not apply to the general framework of games with incomplete information. This project investigates sufficient conditions for the existence of pure-strategy Nash equilibrium in games of incomplete information. The assumption of nonatomicity of the distribution of types allows for an analysis that does not require convexity assumptions on action spaces and/or payoff functions"--Pages iv-v.
Author : Michael R. Baye
Publisher :
ISBN 13 :
Total Pages : 62 pages
Book Rating : 4.3/5 ( download)
Download or read book The Existence of Pure-strategy Nash Equilibrium in Games with Payoffs that are Not Quasiconcave written by Michael R. Baye and published by . This book was released on 1990 with total page 62 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : John Rupert James Gatti
Publisher :
ISBN 13 :
Total Pages : 28 pages
Book Rating : 4.:/5 (5 download)
Download or read book A Note on the Existence of Nash Equilibrium in Games with Discontinuous Payoffs written by John Rupert James Gatti and published by . This book was released on 2005 with total page 28 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Guilherme Carmona
Publisher :
ISBN 13 :
Total Pages : 15 pages
Book Rating : 4.:/5 (129 download)
Download or read book An Existence Result for Discontinuous Games written by Guilherme Carmona and published by . This book was released on 2008 with total page 15 pages. Available in PDF, EPUB and Kindle. Book excerpt: We introduce a notion of upper semicontinuity, weak upper semicontinuity, and show that it, together with a weak form of payoff security, is enough to guarantee the existence of Nash equilibria in compact, quasiconcave normal form games.
Author :
Publisher :
ISBN 13 :
Total Pages : 690 pages
Book Rating : 4.:/5 (49 download)
Download or read book Games and Economic Behavior written by and published by . This book was released on 1999 with total page 690 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Paul Rothstein
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (137 download)
Download or read book Discontinuous Payoffs, Shared Resources, and Games of Fiscal Competition written by Paul Rothstein and published by . This book was released on 2007 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: We define a class of games with discontinuous payoffs that we call shared resource games and establish a pure strategy Nash equilibrium existence theorem for these games. We then apply this result to a canonical game of fiscal competition for mobile capital. Other applications are also discussed. Our result for the mobile capital game holds for any finite number of regions, permits general preferences over private and public goods, and does not assume that production technologies have a particular functional form, or are identical in all regions, or satisfy the Inada condition at zero.
Author : Pavlo Prokopovych
Publisher :
ISBN 13 :
Total Pages : 33 pages
Book Rating : 4.:/5 (13 download)
Download or read book On Uniform Conditions for the Existence of Mixed Strategy Equilibria written by Pavlo Prokopovych and published by . This book was released on 2014 with total page 33 pages. Available in PDF, EPUB and Kindle. Book excerpt: Embarking from the concept of uniform payoff security (Journal of Econonomic Theory, Vol. 134, 2007), we introduce two other uniform conditions and then study the existence of mixed strategy Nash equilibria in games where the sum of the payoff functions is not necessarily upper semicontinuous.
Author :
Publisher : ScholarlyEditions
ISBN 13 : 1464990727
Total Pages : 2231 pages
Book Rating : 4.4/5 (649 download)
Download or read book Economics—Advances in Research and Application: 2012 Edition written by and published by ScholarlyEditions. This book was released on 2012-12-26 with total page 2231 pages. Available in PDF, EPUB and Kindle. Book excerpt: Economics—Advances in Research and Application: 2012 Edition is a ScholarlyEditions™ eBook that delivers timely, authoritative, and comprehensive information about Economics. The editors have built Economics—Advances in Research and Application: 2012 Edition on the vast information databases of ScholarlyNews.™ You can expect the information about Economics in this eBook to be deeper than what you can access anywhere else, as well as consistently reliable, authoritative, informed, and relevant. The content of Economics—Advances in Research and Application: 2012 Edition has been produced by the world’s leading scientists, engineers, analysts, research institutions, and companies. All of the content is from peer-reviewed sources, and all of it is written, assembled, and edited by the editors at ScholarlyEditions™ and available exclusively from us. You now have a source you can cite with authority, confidence, and credibility. More information is available at http://www.ScholarlyEditions.com/.
Author : Arthur John Robson
Publisher :
ISBN 13 :
Total Pages : 24 pages
Book Rating : 4.:/5 (24 download)
Download or read book Existence of Nash Equilibrium in Mixed Strategies for Games where Payoffs Need Not be Continuous in Pure Strategies written by Arthur John Robson and published by . This book was released on 1990 with total page 24 pages. Available in PDF, EPUB and Kindle. Book excerpt:
