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On the Existence of Pure and Mixed Strategy Nash Equilibria in Discontinuous Games

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  • Philip J. Reny

Abstract

A game is better-reply secure if for every non equilibrium strategy x* and every payoff vector limit u* resulting from strategies approaching x*, some player i has a strategy yielding a payoff strictly above u[subscript i superscript *] even if the others deviate slightly from x*. If strategy spaces are compact and convex, payoffs are quasiconcave in the owner's strategy, and the game is better-reply secure, then a pure strategy Nash equilibrium exists. Better-reply security holds in many economic games. It also permits new results on the existence of symmetric and mixed strategy equilibria.

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Bibliographic Info

Article provided by Econometric Society in its journal Econometrica.

Volume (Year): 67 (1999)
Issue (Month): 5 (September)
Pages: 1029-1056

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Handle: RePEc:ecm:emetrp:v:67:y:1999:i:5:p:1029-1056

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