. Using an example of an LDG with two actions and a single trait in which some Nash equilibrium distributions cannot be …

equilibrium with finite agents, but without one when modeled on the Lebesgue unit interval. We (i) establish saturated player … spaces as both necessary and sufficient for an existence result for Nash equilibrium in pure strategies, (ii) clarify the … ; mixed strategy ; behavioral strategy ; saturated probability space ; exact law of large numbers ; ex-post Nash equilibrium …

English auction converges to a Walrasian equilibrium (if any) within finite rounds when agents submit their bids that consist … of a Nash equilibrium in each round game. We also provide a sufficient condition for the English auction to converge to a … Walrasian equilibrium in finite rounds. But this condition is weaker than the Nash equilibrium. This shows that the Nash …

. Using an example of an LDG with two actions and a single trait in which some Nash equilibrium distributions cannot be …

volatility without assuming wage rigidity by showing that households can rationally select a Nash equilibrium consisting of … cyclically volatile. Vacancy costs are particularly affected by this Nash equilibrium. Because this Pareto inefficient path …

on waiting times. A number of applications are also discussed. The selection of the risk dominant equilibrium in 2 …

This paper shows that a Nash equilibrium consisting of strategies of choosing a Pareto inefficient transition path is …-induced uncertainty makes non-cooperative and risk-averse households behave more myopically, resulting in a Nash equilibrium of a Pareto …

) equilibrium. We argue that this excrcise is an essential complement to asymptotic core equivalence results, because it implies …