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This paper introduces a simple extensive form pricing game.The Bertrand outcome is a Nash equilibrium outcome in this game, but it is not necessarily subgame perfect.The subgame perfect equilibrium outcome features the following comparative static properties.The more similar firms are, the...
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Finite potential games have Nash equilibria in pure strategies.This note provides some results on the existence of equilibria or approximate equilibria if some players have infinite sets of strategies.
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achieving an agreement.Using game theory we argue that in the case of independent countries adjustment from the Nash equilibrium …
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