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Is Having a Unique Equilibrium Robust?

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Author Info
Yannick Viossat () (CEREMADE - CEntre de REcherches en MAthématiques de la DEcision - CNRS : UMR7534 - Université Paris Dauphine - Paris IX)
Abstract

We investigate whether having a unique equilibrium (or a given number of equilibria) is robust to perturbation of the payoffs, both for Nash equilibrium and correlated equilibrium. We show that the set of n-player finite games with a unique correlated equilibrium is open, while this is not true of Nash equilibrium for n>2. The crucial lemma is that a unique correlated equilibrium is a quasi-strict Nash equilibrium. Related results are studied. For instance, we show that generic two-person zero-sum games have a unique correlated equilibrium and that, while the set of symmetric bimatrix games with a unique symmetric Nash equilibrium is not open, the set of symmetric bimatrix games with a unique and quasi-strict symmetric Nash equilibrium is.

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Paper provided by HAL in its series Post-Print with number hal-00361891_v1.

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Date of creation: Dec 2008
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Publication status: Published, Journal of Mathematical Economics, 2008, 44, 11, 1152-1160
Handle: RePEc:hal:journl:hal-00361891_v1

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Related research
Keywords: Correlated equilibrium; Linear duality; Unique equilibrium; Quasi-strict equilibrium;

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  1. Aumann, Robert J., 1974. "Subjectivity and correlation in randomized strategies," Journal of Mathematical Economics, Elsevier, vol. 1(1), pages 67-96, March. [Downloadable!] (restricted)
  2. Ritzberger, Klaus, 1994. "The Theory of Normal Form Games form the Differentiable Viewpoint," International Journal of Game Theory, Springer, vol. 23(3), pages 207-36.
  3. Nau, Robert F. & McCardle, Kevin F., 1990. "Coherent behavior in noncooperative games," Journal of Economic Theory, Elsevier, vol. 50(2), pages 424-444, April. [Downloadable!] (restricted)
  4. Forges, Francoise, 1990. "Correlated Equilibrium in Two-Person Zero-Sum Games," Econometrica, Econometric Society, vol. 58(2), pages 515, March.
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