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Nash Equilibrium Without Mutual Knowledge of Rationality

Lo, Kin Chung - 1999

In a Nash equilibrium, players' rationality is mutual knowledge. However, both intuition and experimental evidence … suggest that players do not know for sure the rationality of opponents. This paper proposes a new equilibrium concept … equilibrium, players do not necessarily know the rationality of opponents, but they view rationality as infinitely more likely …

Persistent link: https://www.econbiz.de/10014179636

Existence and Uniqueness of Active Equilibria in Linear Bilateral Oligopolies

Lahiri, Somdeb - 2012

Persistent link: https://www.econbiz.de/10014165863

Equilibria in symmetric games : theory and applications

Hefti, Andreas - In: Theoretical economics : TE ; an open access journal in … 12 (2017) 3, pp. 979-1002

This article presents a new approach to analyze the equilibrium set of symmetric, differentiable games by separating multiple symmetric equilibria and asymmetric equilibria. This separation allows the investigation of, for example, how various parameter constellations affect the scope for...

Persistent link: https://www.econbiz.de/10011744039

Evolutionary stability in asymmetric oligopoly : a non-Walrasian result

Leininger, Wolfgang; Moghadam, Hamed M. - 2014

It is a very well-known result that in terms of evolutionary stability the long-run outcome of a Cournot oligopoly market with finitely many firms approaches the perfectly competitive Walrasian market outcome (Vega-Redondo, 1997). However, in this paper we show that an asymmetric structure in...

Persistent link: https://www.econbiz.de/10010399434

Stationary Bayesian-Markov equilibria in Bayesian stochastic games with periodic revelation

Ko, Eunmi - In: Games 15 (2024) 5, pp. 1-17

I consider a class of dynamic Bayesian games in which types evolve stochastically according to a first-order Markov process on a continuous type space. Types are privately informed, but they become public together with actions when payoffs are obtained, resulting in a delayed information...

Persistent link: https://www.econbiz.de/10015271402

Stochastic stability in finite extensive-form games of perfect information

Xu, Zibo - 2013

We consider a basic stochastic evolutionary model with rare mutation and a best-reply (or better-reply) selection mechanism. Following Young's papers, we call a state stochastically stable if its long-term relative frequency of occurrence is bounded away from zero as the mutation rate decreases...

Persistent link: https://www.econbiz.de/10009727120

Investigation of equilibrium in oligopoly markets with the help of tripled fixed points in Banach spaces

Ilchev, Atanas; Ivanova, Vanya; Kulina, Hristina; … - In: Econometrics : open access journal 12 (2024) 2, pp. 1-24

In the study we explore an oligopoly market for equilibrium and stability based on statistical data with the help of response functions rather than payoff maximization. To achieve this, we extend the concept of coupled fixed points to triple fixed points. We propose a new model that leads to...

Persistent link: https://www.econbiz.de/10014636403

Splitting games : Nash equilibrium and the optimisation problem

Martins, Ana Paula - 2010

This research states the stylised n (more than two) players' splitting problem as a mathematical programme, relying on definitions of the values of the game and problem stationarity to generate tractable reduced forms, and derives the known solutions according to the properties of pertaining...

Persistent link: https://www.econbiz.de/10011524731

Existence of Equilibria in Constrained Discontinuous Games

Bagh, Adib - 2019

We establish the existence of pure strategy equilibria in games with discontinuous payoffs where the set of feasible actions of each player varies, also in a discontinuous fashion, as a function of the actions of the other players. Such games are used in modeling abstract economies and other...

Persistent link: https://www.econbiz.de/10012905077

On the (Non)-Lattice Structure of Equilibrium Sets in Games with Strategic Substitutes

Roy, Sunanda - 2020

This paper studies models where the optimal response functions under consideration are non-increasing in endogenous variables, and weakly increasing in exogenous parameters. Such models include games with strategic substitutes, and include cases where additionally, some variables may be...

Persistent link: https://www.econbiz.de/10012824357