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well known refinements of the Nash equilibrium, namely, perfect Nash equilibrium and proper Nash equilibrium, are special … Nash equilibrium is shown to exist for every game. In symmetric bimatrix games, our results imply the existence of a … symmetric proper equilibrium. Applying our results to the field of evolutionary game theory yields a refinement of the …
Persistent link: https://www.econbiz.de/10011327822
Any function from a non-empty polytope into itself that is locally gross direction preserving is shown to have the fixed point property. Brouwer's fixed point theorem for continuous functions is a special case. We discuss the application of the result in the area of non-cooperative game theory.
Persistent link: https://www.econbiz.de/10011342557
-linear utilities in money. We introduce a general condition which will be shown to guarantee the existence of a Walrasian equilibrium … which converges globally to a Walrasian equilibrium. …
Persistent link: https://www.econbiz.de/10010678502
equilibrium, which may or may not exist, no agents have incentives to break up or form new partnerships. This paper proposes a … dynamic competitive adjustment process that always either finds an equilibrium or exclusively disproves the existence of any … equilibrium in finitely many steps. When an equilibrium exists, partnership and revenue distribution will be automatically and …
Persistent link: https://www.econbiz.de/10011241613
well known refinements of the Nash equilibrium, namely, perfect Nash equilibrium and proper Nash equilibrium, are special … Nash equilibrium is shown to exist for every game. In symmetric bimatrix games, our results imply the existence of a … symmetric proper equilibrium. Applying our results to the field of evolutionary game theory yields a refinement of the …
Persistent link: https://www.econbiz.de/10011255864
Any function from a non-empty polytope into itself that is locally gross direction preserving is shown to have the fixed point property. Brouwer's fixed point theorem for continuous functions is a special case. We discuss the application of the result in the area of non-cooperative game...</p>
Persistent link: https://www.econbiz.de/10011257532
money. We derive a necessary and sufficient condition for the existence of a competitive equilibrium in the economy. The …
Persistent link: https://www.econbiz.de/10009147388
equilibrium, which may or may not exist, no agents have incentives to break up or form new partnerships. This paper proposes a … dynamic competitive adjustment process that always either finds an equilibrium or exclusively proves the nonexistence of any … equilibrium in finitely many steps. When an equilibrium exists, partnership and revenue distribution will be automatically and …
Persistent link: https://www.econbiz.de/10010605345
equilibrium, which may or may not exist, no agents have incentives to break up any existing partnerships or form new partnerships …. This paper proposes a dynamic competitive adjustment process that always either finds an equilibrium or exclusively … disproves the existence of any equilibrium in finitely many steps. When an equilibrium exists, partnership and revenue …
Persistent link: https://www.econbiz.de/10010785190
We address the problem of computing a Walrasian equilibrium price in an ascending auction with gross substitutes … multiple units. Although the ascending auction is known to ï¬nd an equilibrium price vector in ï¬nite time, little is known … terms of the L infinity distance between the initial price vector and an equilibrium, and an efficient algorithm to update a …
Persistent link: https://www.econbiz.de/10010679667