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Two Examples of Equilibrium Nonexistence

Author

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  • Jamison Julian C.

    (Office of Research, Consumer Financial Protection Bureau, 1700 G St NW Washington District of Columbia 20552, USA)

Abstract

We present two simple situations in which SPE or NE fail to exist, even though intuition and the motivations for the definitions strongly suggest that they ought to. That is, nonexistence is due merely to technical barriers rather than fundamental barriers inherent in the structure of the situations (as occurs e.g. with auctions). Possibly resolutions are discussed.

Suggested Citation

  • Jamison Julian C., 2014. "Two Examples of Equilibrium Nonexistence," Mathematical Economics Letters, De Gruyter, vol. 1(2-4), pages 55-60, July.
    • Handle: RePEc:bpj:maecol:v:1:y:2014:i:2-4:p:6:n:3
    DOI: 10.1515/mel-2013-0018
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    References listed on IDEAS

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    JEL classification:

    • C62 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Existence and Stability Conditions of Equilibrium
    • C72 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Noncooperative Games
    • C73 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Stochastic and Dynamic Games; Evolutionary Games
    • N01 - Economic History - - General - - - Development of the Discipline: Historiographical; Sources and Methods

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