This paper introduces the notion of nested best-response potentials for complete in- formation games. It is shown that a unique maximizer of such a potential is a Nash equilibrium that is robust to incomplete information in the sense of Kajii and Morris (1997, mimeo).

This paper introduces the notion of nested best response potentials for complete information games. It is shown that a unique maximizer of such a potential is a Nash equilibrium that is robust to incomplete information in the sense of Kajii and Morris (1997, mimeo).

The coordinating role of a redundant security is its role in markets with transaction costs to coordinate different consumers’ security demands so as to clear all security markets and, simultaneously, attain a given commodity allocation. The purpose of this paper is to prove that, under some...

This note analyzes the effect of product complementarity in a bilateral oligopoly. We show that offers of traders on the two sides of the market are strategic complements (substitutes) if and only if the two goods are substitutes (complements). The outcome of the bilateral oligopoly game...

A component of Nash equilibria is potentially stable if there exists an evolutionary selection dynamics from a broad class for which the component is asymptotically stable. Anecessary condition for potential stability is that the component's index agrees with its Euler characteristic. Second, if...

Global income taxation in the country of residence is a legal dogma of international taxation. We question this dogma from the perspective of relations with developing countries from a legal and economic perspective, and make a modern and fair proposal for tax treaties. We will show under which...