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Regularity and Stability in Monotone Bayesian Games

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  • Alan Beggs
  • A.W. Beggs

Abstract

This paper defines regular and weakly regular equilibria for monotone Bayesian games with one-dimensional actions and types.� It proves an index theorem and provides applications to uniqueness of equilibrium.� It also provides analyses of stability with respect to perturbations and dynamic stability.

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File URL: http://www.economics.ox.ac.uk/materials/papers/5552/paper587.pdf
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Bibliographic Info

Paper provided by University of Oxford, Department of Economics in its series Economics Series Working Papers with number 587.

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Date of creation: 01 Dec 2011
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Handle: RePEc:oxf:wpaper:587

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Related research

Keywords: Bayesian games; Monotone strategies; Index theory; Stability; Uniequeness; Regularity;

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References

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  1. Philip J Reny, 2005. "On the Existence of Monotone Pure Strategy Equilibria in Bayesian Games," NajEcon Working Paper Reviews 784828000000000413, www.najecon.org.
  2. Frankel, David M. & Morris, Stephen & Pauzner, Ady, 2003. "Equilibrium Selection in Global Games with Strategic Complementarities," Staff General Research Papers 11920, Iowa State University, Department of Economics.
  3. Paul Milgrom & Robert J. Weber, 1981. "A Theory of Auctions and Competitive Bidding," Discussion Papers 447R, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
  4. Mathevet, Laurent, . "A contraction principle for finite global games," Working Papers 1243, California Institute of Technology, Division of the Humanities and Social Sciences.
  5. Rader, J Trout, 1973. "Nice Demand Functions," Econometrica, Econometric Society, vol. 41(5), pages 913-35, September.
  6. Milgrom, P. & Shannon, C., 1991. "Monotone Comparative Statics," Papers 11, Stanford - Institute for Thoretical Economics.
  7. Athey, Susan, 2001. "Single Crossing Properties and the Existence of Pure Strategy Equilibria in Games of Incomplete Information," Econometrica, Econometric Society, vol. 69(4), pages 861-89, July.
  8. Hans Carlsson & Eric van Damme, 1993. "Global Games and Equilibrium Selection," Levine's Working Paper Archive 122247000000001088, David K. Levine.
  9. Timothy J. Kehoe, 1979. "An Index Theorem for General Equilibrium Models with Production," Cowles Foundation Discussion Papers 516, Cowles Foundation for Research in Economics, Yale University.
  10. Van Zandt, Timothy & Vives, Xavier, 2007. "Monotone equilibria in Bayesian games of strategic complementarities," Journal of Economic Theory, Elsevier, vol. 134(1), pages 339-360, May.
  11. David McAdams, 2003. "Isotone Equilibrium in Games of Incomplete Information," Econometrica, Econometric Society, vol. 71(4), pages 1191-1214, 07.
  12. Jonathan Weinstein & Muhamet Yildiz, 2007. "A Structure Theorem for Rationalizability with Application to Robust Predictions of Refinements," Econometrica, Econometric Society, vol. 75(2), pages 365-400, 03.
  13. Alan Beggs, 2005. "Learning in Bayesian Games with Binary Actions," Economics Series Working Papers 232, University of Oxford, Department of Economics.
  14. Mclennan, A., 1989. "Selected Topics In The Theory Of Fixed Points," Papers 251, Minnesota - Center for Economic Research.
  15. Govindan, Srihari & Reny, Philip J. & Robson, Arthur J., 2003. "A short proof of Harsanyi's purification theorem," Games and Economic Behavior, Elsevier, vol. 45(2), pages 369-374, November.
  16. Hellwig, Christian, 2002. "Public Information, Private Information, and the Multiplicity of Equilibria in Coordination Games," Journal of Economic Theory, Elsevier, vol. 107(2), pages 191-222, December.
  17. Athey, S., 1996. "Characterizing Properties of Stochastic Objective Functions," Working papers 96-1, Massachusetts Institute of Technology (MIT), Department of Economics.
  18. Shannon, Chris, 1994. "Regular nonsmooth equations," Journal of Mathematical Economics, Elsevier, vol. 23(2), pages 147-165, March.
  19. Mason, Robin & Valentinyi, Ãkos, 2007. "The existence and uniqueness of monotone pure strategy equilibrium in Bayesian games," Discussion Paper Series In Economics And Econometrics 0710, Economics Division, School of Social Sciences, University of Southampton.
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