Gale, Douglas; Sabourian, Hamid - In: Econometrica 73 (2005) 3, pp. 739-769
Extensive-form market games typically have a large number of noncompetitive equilibria. In this paper, we argue that the complexity of noncompetitive behavior provides a justification for competitive equilibrium in the sense that if rational agents have an aversion to complexity (at the margin),...