Uniform payoff security and Nash equilibrium in metric games

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Uniform payoff security and Nash equilibrium in metric games

Author Info

Paulo Klinger Monteiro (FGV-EPGE)
Frank H. Page Jr () (Department of finance, University of Alabama)

Additional information is available for the following registered author(s):

Paulo Klinger Monteiro

Abstract

We introduce a condition, uniform payoff security, for games with separable metric strategy spaces and payoffs bounded and measurable in players' strategies. We show that if any such metric game G is uniformly payoff secure, then its mixed extension G is payoff secure. We also establish that if a uniformly payoff secure metric game G has compact strategy spaces, and if its mixed extension G has reciprocally upper semicontinuous payoffs, then G has a Nash equilibrium in mixed strategies. We provide several economic examples of metric games satisfying uniform payoff security.

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Paper provided by Université Panthéon-Sorbonne (Paris 1) in its series Cahiers de la Maison des Sciences Economiques with number b05086.

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Length: 13 pages
Date of creation: Dec 2005
Date of revision:
Handle: RePEc:mse:wpsorb:b05086

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Paper
- Paulo Klinger Monteiro & Frank H. Page Jr., 2005. "Uniform payoff security and Nash equilibrium in metric games," UniversitÃ© Paris1 PanthÃ©on-Sorbonne (Post-Print and Working Papers) halshs-00197491_v1, HAL. [Downloadable!]

Find related papers by JEL classification:
C72 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Noncooperative Games

This paper has been announced in the following NEP Reports:

NEP-ALL-2006-01-01 (All new papers)
NEP-GTH-2006-01-01 (Game Theory)

References listed on IDEAS
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Simon, Leo K, 1987. "Games with Discontinuous Payoffs," Review of Economic Studies, Blackwell Publishing, vol. 54(4), pages 569-97, October. [Downloadable!] (restricted)
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Other versions:
- Guilherme Carmona, 2004. "On the Existence of Equilibria in Discontinuous Games: Three Counterexamples," Game Theory and Information 0402001, EconWPA. [Downloadable!]
- Carmona, Guilherme, 2003. "On the Existence of Equilibria in Discontinuous Games: Three Counterexamples," FEUNL Working Paper Series wp438, Universidade Nova de Lisboa, Faculdade de Economia. [Downloadable!]
Dan Kovenock & Michael R. Baye & Casper G. de Vries, 1996. "The all-pay auction with complete information (*)," Economic Theory, Springer, vol. 8(2), pages 291-305.
Other versions:
- Baye, Michael R. & Kovenock, Dan & Vries, Casper de, 1995. "The All-pay Auction with Complete Information," CESifo Working Paper Series CESifo Working Paper No. , CESifo Group Munich.
- Kovenock, D. & de Vries, C.G., 1995. "The All-Pay Auction with Complete Information," UFAE and IAE Working Papers 311.95, Unitat de Fonaments de l'Anàlisi Econòmica (UAB) and Institut d'Anàlisi Econòmica (CSIC).
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Page, Frank Jr. & Monteiro, Paulo K., 2003. "Three principles of competitive nonlinear pricing," Journal of Mathematical Economics, Elsevier, vol. 39(1-2), pages 63-109, February. [Downloadable!] (restricted)
Other versions:
- Page, F.H.Jr. & Monteiro, P.K., 2001. "Three Principles of Competitive Nonlinear Pricing," The Warwick Economics Research Paper Series (TWERPS) 592, University of Warwick, Department of Economics. [Downloadable!]
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- Page Junior, Frank H. & Monteiro, Paulo Klinger, 2002. "Three Principles of Competitive Nonlinear Pricing," Economics Working Papers (Ensaios Economicos da EPGE) 442, Graduate School of Economics, Getulio Vargas Foundation (Brazil). [Downloadable!]

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