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This paper studies the existence of equilibrium solution concepts in a large class of economic models with discontinuous payoff functions. The issue is well understood for Nash equilibria, thanks to Reny's better-reply security condition ( Reny 1999) and its recent improvements (Barelli and...
Persistent link: https://www.econbiz.de/10012010064
We provide conditions that simplify applying Reny's (1999) better-reply security to Bayesian games, and use these conditions to prove the existence of equilibria for classes of games in which payoff discontinuities arise only at "ties." These games include a general version of all-pay contests,...
Persistent link: https://www.econbiz.de/10014536959
regularity for dynamic stochastic games and exploit a simple connection between normal form and dynamic stochastic games. …
Persistent link: https://www.econbiz.de/10011599432
regularity for dynamic stochastic games and exploit a simple connection between normal form and dynamic stochastic games. …
Persistent link: https://www.econbiz.de/10008562484