Showing 1 - 10 of 15
In games with strategic substitutes (GSS), convergence of the best response dynamic starting from the inf (or sup) of the strategy space is equivalent to global stability (convergence of every adaptive dynamic to the same pure strategy Nash equilibrium). Consequently, in GSS, global stability...
Persistent link: https://www.econbiz.de/10008505347
Under some conditions, parameterized games with strategic substitutes exhibit monotone comparative statics of equilibria. These conditions relate to a tradeoff between a direct parameter effect and an opposing, indirect strategic substitute effect. If the indirect effect does not dominate the...
Persistent link: https://www.econbiz.de/10012894086
This paper studies models where the optimal response functions under consideration are non-increasing in endogenous variables, and weakly increasing in exogenous parameters. Such models include games with strategic substitutes, and include cases where additionally, some variables may be...
Persistent link: https://www.econbiz.de/10012824357
In games with strategic substitutes (GSS), convergence of the best-response dynamic starting from the inf (or sup) of the strategy space is equivalent to global stability (convergence of every adaptive dynamic to the same pure strategy Nash equilibrium). Consequently, in GSS, global stability...
Persistent link: https://www.econbiz.de/10012824362
We consider global games with general payoff structures and prove existence of equilibrium. This shows that the global games method is well-defined with arbitrary strategic interaction among players, thus providing a foundation for the study of more general equilibrium behavior, especially as...
Persistent link: https://www.econbiz.de/10012894111
Some results in the monotone comparative statics literature tell us that if a parameter increases, some old equilibria are smaller than some new equilibria. We give a sufficient condition such that at a new parameter value every old equilibrium is smaller than every new equilibrium. We also...
Persistent link: https://www.econbiz.de/10014065935
The order and lattice structure of the equilibrium set in games with strategic complements do not survive a minimal introduction of strategic substitutes: in a lattice game in which all-but-one players exhibit strategic complements (with one player exhibiting strict strategic complements), and...
Persistent link: https://www.econbiz.de/10008509094
This paper studies games with both strategic substitutes and strategic complements, and more generally, games with strategic heterogeneity (GSH). Such games may behave differently from either games with strategic complements or games with strategic substitutes. Under mild assumptions (on one or...
Persistent link: https://www.econbiz.de/10014108620
In game theory, p-dominance and p-best response sets serve as important robustness solution concepts by allowing for deviations from the stringent common knowledge requirements of Nash equilibrium. However, solving for such sets remains largely intractable beyond the simplest of settings. The...
Persistent link: https://www.econbiz.de/10014031702
The order and lattice structure of the equilibrium set in games with strategic complements do not survive a minimal introduction of strategic substitutes: in a lattice game in which all-but-one players exhibit strategic complements (with one player exhibiting strict strategic complements), and...
Persistent link: https://www.econbiz.de/10012894090