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Anonymous Sequential Games: Existence and Characterization of Equilibria


  • Bergin, J
  • Bernhardt, D


In this paper we consider Ananymous Sequential Games with Aggregate Uncertainty. We prove existence of equilibrium when there is a general state space representing aggregate uncertainty. When the economy is stationary and the underlying process governing aggregate uncertainty Markov, we provide Markov representations of the equilibria.

Suggested Citation

  • Bergin, J & Bernhardt, D, 1995. "Anonymous Sequential Games: Existence and Characterization of Equilibria," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 5(3), pages 461-489, May.
  • Handle: RePEc:spr:joecth:v:5:y:1995:i:3:p:461-89

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    References listed on IDEAS

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    7. Bulow, Jeremy I & Geanakoplos, John D & Klemperer, Paul D, 1985. "Multimarket Oligopoly: Strategic Substitutes and Complements," Journal of Political Economy, University of Chicago Press, vol. 93(3), pages 488-511, June.
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    10. Milgrom, Paul & Shannon, Chris, 1994. "Monotone Comparative Statics," Econometrica, Econometric Society, vol. 62(1), pages 157-180, January.
    11. Villas-Boas, J. Miguel, 1997. "Comparative Statics of Fixed Points," Journal of Economic Theory, Elsevier, vol. 73(1), pages 183-198, March.
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    Cited by:

    1. Flavio Toxvaerd & Chryssi Giannitsarou, 2004. "Recursive global games," Money Macro and Finance (MMF) Research Group Conference 2003 104, Money Macro and Finance Research Group.
    2. Ulrich Doraszelski & Mark Satterthwaite, 2003. "Foundations of Markov-Perfect Industry Dynamics. Existence, Purification, and Multiplicity," Discussion Papers 1383, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
    3. Chakrabarti, Subir K., 2003. "Pure strategy Markov equilibrium in stochastic games with a continuum of players," Journal of Mathematical Economics, Elsevier, vol. 39(7), pages 693-724, September.
    4. AMIR, Rabah, 2001. "Stochastic games in economics and related fields: an overview," CORE Discussion Papers 2001060, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
    5. Miao, Jianjun, 2006. "Competitive equilibria of economies with a continuum of consumers and aggregate shocks," Journal of Economic Theory, Elsevier, vol. 128(1), pages 274-298, May.
    6. Adlakha, Sachin & Johari, Ramesh & Weintraub, Gabriel Y., 2015. "Equilibria of dynamic games with many players: Existence, approximation, and market structure," Journal of Economic Theory, Elsevier, vol. 156(C), pages 269-316.
    7. Bodoh-Creed, Aaron, 2013. "Efficiency and information aggregation in large uniform-price auctions," Journal of Economic Theory, Elsevier, vol. 148(6), pages 2436-2466.
    8. James Bergin & Dan Bernhardt, 2008. "Industry dynamics with stochastic demand," RAND Journal of Economics, RAND Corporation, vol. 39(1), pages 41-68.
    9. repec:spr:dyngam:v:7:y:2017:i:3:d:10.1007_s13235-016-0194-2 is not listed on IDEAS
    10. James Bergin, 2011. "Patent Length, Investment and Social Welfare," Working Papers 1282, Queen's University, Department of Economics.
    11. Jian Yang, 2015. "A Link between Sequential Semi-anonymous Nonatomic Games and their Large Finite Counterparts," Papers 1510.06809,, revised Jun 2016.
    12. Jian Yang, 2015. "Analysis of Markovian Competitive Situations using Nonatomic Games," Papers 1510.06813,, revised Apr 2017.

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