existence of pure-strategy equilibria allowing for infinite-dimensional externalities. Applied to stochastic games, the results … yield existence of stationary Markov perfect equilibria with extremal payoffs, which in turn yields existence of pure … strategy stationary Markov perfect equilibria for games with sequential moves. Applied to the model of institutions, we obtain …

public equilibria in pure strategies. This result fails for mixed strategies, even when attention is restricted to two …

This paper examines the issue of multiplicity of equilibria in alternating move repeated games with two players. Such … attention on Markov Perfect equilibria (MPE). These are Perfect equilibria in which individuals condition their actions on … payoff-relevant state variables. Our main result is that the number of Markov Perfect equilibria is generically finite with …

This paper examines Markov Perfect equilibria of general, finite state stochastic games. Our main result is that the … number of such equilibria is finite for a set of stochastic game payoffs with full Lebesgue measure. We further discuss …