More Strategies, More Nash Equilibria
This short paper isolates a non-trivial class of games for which there exists a monotone relation between the size of pure strategy spaces and the number of pure Nash equilibria (Theorem). This class is that of two-player nice games, i.e., games with compact real intervals as strategy spaces and continuous and strictly quasi-concave payoff functions, assumptions met by many economic models. We then show that the sufficient conditions for Theorem to hold are tight.
|Date of creation:||Feb 2005|
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- Andrew McLennan, 2005.
"The Expected Number of Nash Equilibria of a Normal Form Game,"
Econometric Society, vol. 73(1), pages 141-174, 01.
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"Incomplete Contracts and Strategic Ambiguity,"
American Economic Review,
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- Gossner, Olivier, 2010. "Ability and knowledge," Games and Economic Behavior, Elsevier, vol. 69(1), pages 95-106, May.
- McKelvey, Richard D. & McLennan, Andrew, 1996. "Computation of equilibria in finite games," Handbook of Computational Economics, in: H. M. Amman & D. A. Kendrick & J. Rust (ed.), Handbook of Computational Economics, edition 1, volume 1, chapter 2, pages 87-142 Elsevier.
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- Thomas Quint & Martin Shubik, 1994. "On the Number of Nash Equilibria in a Bimatrix Game," Cowles Foundation Discussion Papers 1089, Cowles Foundation for Research in Economics, Yale University.
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