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We introduce a procedure that uses basic typological charasteristics of equilibrium correspondences of standard equilibrium concepts, to define broad equivalence classes of finite generic games in normal form. The proposed procedure is viewed as a potentially useful way of both organizing the...
Persistent link: https://www.econbiz.de/10005779530
We extend Kohlberg and Mertens' (1986) structure theorem concerning the Nash equilibrium correspondence to show that its graph is not only homeomorphic to the underlying space of games but that it is also unknotted. This is then shown to have some basic consequences for dynamics whose rest...
Persistent link: https://www.econbiz.de/10005634128
Given a game and a dynamics on the space of strategies it is possible to associate to any component of Nash equilibria, an integer, this is the index, see Ritzberger (1994). This number gives useful information on the equilibrium set and in particular on its stability properties under the given...
Persistent link: https://www.econbiz.de/10005669226
In an example with two objects and four bidders, some of which have superadditive values, we characterize the equilibria of a simultaneous ascending auction and compare the revenue and efficiency generated with ones generated by the sequential , the one-shot simultaneous, and the...
Persistent link: https://www.econbiz.de/10005669266