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Large Games with a Bio-Social Typology

Author

Listed:
  • M. Ali Khan

    (Department of Economics, Johns Hopkins University)

  • Kali P. Rath

    (Department of Economics, University of Notre Dame)

  • Yeneng Sun

    (Department of Economics, National University of Singapore)

  • Haomiao Yu

    (Department of Economics, Ryerson University)

Abstract

We present a comprehensive theory of large games in which players have names and determinate social-types and/or biological traits, and identify through four decisive examples, essentially based on a matching-pennies type game, pathologies arising from the use of a Lebesgue interval for player's names. In a sufficiently general context of traits and actions, we address this dissonance by showing a saturated probability space as being a necessary and sufficient name-space for the existence and upper hemi-continuity of pure-strategy Nash equilibria in large games with traits. We illustrate the idealized results by corresponding asymptotic results for an increasing sequence of finite games.

Suggested Citation

  • M. Ali Khan & Kali P. Rath & Yeneng Sun & Haomiao Yu, 2012. "Large Games with a Bio-Social Typology," Working Papers 035, Ryerson University, Department of Economics.
    • Handle: RePEc:rye:wpaper:wp035
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    More about this item

    Keywords

    Large games; social-type; traits; idealized limit game; saturated probability space; pure-strategy Nash equilibrium; closed-graph property; upper hemi-continuity; asymptotic implementation;
    All these keywords.

    JEL classification:

    • C62 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Existence and Stability Conditions of Equilibrium
    • D50 - Microeconomics - - General Equilibrium and Disequilibrium - - - General
    • D82 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Asymmetric and Private Information; Mechanism Design
    • G13 - Financial Economics - - General Financial Markets - - - Contingent Pricing; Futures Pricing

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