This paper derives sufficient conditions for a class of games of complete information , such as first price auctions, to have pure trategy Nash equilibria (PSNE). The paper treats games between two or more heterogeneous agents, each with private information about his own type (for example, a bidder's value for an object or a firm's marginal cost of production) , and the types are drawn from an atomless joint probability distribution which potentially allows for correlation between types.
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Paper provided by Massachusetts Institute of Technology (MIT), Department of Economics in its series Working papers with number
97-11.
Length: 50 pages Date of creation: 1997 Date of revision: Handle: RePEc:mit:worpap:97-11
Contact details of provider: Postal: MASSACHUSETTS INSTITUTE OF TECHNOLOGY (MIT), DEPARTMENT OF ECONOMICS, 50 MEMORIAL DRIVE CAMBRIDGE MASSACHUSETTS 02142 USA Phone: (617) 253-3361 Fax: (617) 253-1330 Web page: http://econ-www.mit.edu/ More information through EDIRC
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Find related papers by JEL classification: C62 - Mathematical and Quantitative Methods - - Mathematical Methods and Programming - - - Existence and Stability Conditions of Equilibrium C63 - Mathematical and Quantitative Methods - - Mathematical Methods and Programming - - - Computational Techniques D44 - Microeconomics - - Market Structure and Pricing - - - Auctions D82 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Asymmetric and Private Information
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