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Heterogeneity in a Class of Two-Player Games

Author

Listed:
  • Charles Figuières

    () (INRA - LAMETA)

  • Frédéric Rychen

    () (GREQAM - IDEP, University of the Mediterranean)

Abstract

In two-player games with negative (positive) spillovers it is well-known that symmetric agents both overact (underact) at the Nash equilibria. We show that for heterogeneous agents this rule of thumb has to be amended if the game features strategic substitutability.

Suggested Citation

  • Charles Figuières & Frédéric Rychen, 2011. "Heterogeneity in a Class of Two-Player Games," Economics Bulletin, AccessEcon, vol. 31(1), pages 426-435.
  • Handle: RePEc:ebl:ecbull:eb-10-00309
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    File URL: http://www.accessecon.com/Pubs/EB/2011/Volume31/EB-11-V31-I1-P41.pdf
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    Keywords

    heterogeneity; over(under)-investment; strategic complementarity; strategic substitutability; two-player games;

    JEL classification:

    • C7 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory
    • D6 - Microeconomics - - Welfare Economics

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