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We study equilibrium in large games of strategic complementarities (GSC) with a differential information and continuum of players. For our game, we define an appropriate notion of distributional Bayesian-Nash equilibrium in the sense of Mas-Colell (1984), and prove its existence. Further, we...
Persistent link: https://www.econbiz.de/10013088315
We study the existence and computation of equilibrium in large games with strategic complementarities. Using monotone operators (in stochastic dominance orders) defined on the space of distributions, we first prove existence of the greatest and least distributional Nash equilibrium in the sense...
Persistent link: https://www.econbiz.de/10013036037
We present a new approach for studying equilibrium dynamics in a class of stochastic games with a continuum of players with private types and strategic complementarities. We introduce a suitable equilibrium concept, called Markov Stationary Distributional Equilibrium (MSDE), prove its existence,...
Persistent link: https://www.econbiz.de/10012829253
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