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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.
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with unawareness, define equilibrium, and prove existence. We show how equilibria are extended naturally from lower to … investigate the robustness of equilibria to uncertainty about opponents' awareness of actions. We show that a Nash equilibrium of …
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Delayed perfect monitoring in an infinitely repeated discounted game is modelled by allocating the players to a connected and undirected network. Players observe their immediate neighbors’ behavior only, but communicate over time the repeated game’s history truthfully throughout the network....
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treated as the (only possible) long-run equilibrium condition. The argument is illustrated in a model of target return pricing … be partly reconciled through variations in the utilisation rate. The analysis unifies history and equilibrium in the … sense that the nature of and the adjustment to the final equilibrium position depends on the objectives of the dominant …
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