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Characterizations of the Existence of Equilibria in Games with Discontinuous and Non-quasiconcave Payoffs

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  • Baye, Michael R
  • Tian, Guoqiang
  • Zhou, Jianxin

Abstract

This paper characterizes pure-strategy and dominant-strategy Nash equilibrium in noncooperative games that may have discontinuous and/or non-quasi-concave payoffs. Conditions called diagonal transfer quasi-concavity and uniform transfer quasi-concavity are shown to be necessary and, with conditions called diagonal transfer continuity and transfer upper semicontinuity, sufficient for the existence of pure-strategy and dominant-strategy Nash equilibrium, respectively. The results are used to examine the existence or nonexistence of equilibrium in some well-known economic games with discontinuous and/or non-quasi-concave payoffs. Copyright 1993 by The Review of Economic Studies Limited.

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Bibliographic Info

Article provided by Wiley Blackwell in its journal Review of Economic Studies.

Volume (Year): 60 (1993)
Issue (Month): 4 (October)
Pages: 935-48

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Handle: RePEc:bla:restud:v:60:y:1993:i:4:p:935-48

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