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A comprehensive theory of large strategic games with (socioeconomic and biological) traits (LSGT) has recently been presented in Khan et al. (2012 a and b), and in this paper, we present a reformulation pertaining to large distributional games with traits (LDGT). In addition to a generalization...
Persistent link: https://www.econbiz.de/10010587670
We present a comprehensive theory of large games in which players have names and determinate social-types and/or biological traits, and identify through four decisive examples, essentially based on a matching-pennies type game, pathologies arising from the use of a Lebesgue interval for player's...
Persistent link: https://www.econbiz.de/10010579066
This paper demonstrates the class of atomless spaces that accurately models the space of players in a large game which represents an idealized limit of a sequence of finite-player games. Through two examples, we show that arbitrary atomless probability spaces, in particular, the Lebesgue unit...
Persistent link: https://www.econbiz.de/10010930794
This paper characterizes both point-rationalizability and rationalizability in large games when societal responses are formulated as distributions or averages of individual actions. The sets of point-rationalizable and rationalizable societal responses are defined and shown to be convex, compact...
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The existence of pure-strategy Nash equilibrium is shown for a non-cooperative game with a continuum of small players and a compact action space. The players’ payoffs depend on their own actions and the mean of the transformed strategy profiles. This covers the case when the payoffs depend on...
Persistent link: https://www.econbiz.de/10005753245
This paper elucidates the conceptual role that independent randomization plays in non-cooperative game theory. In the context of large (atomless) games in normal form, we present precise formalizations of the notions of a mixed strategy equilibrium (MSE), and of a randomized strategy equilibrium...
Persistent link: https://www.econbiz.de/10011145591