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A Cantor Set of Games with No Shift-Homogeneous Equilibrium Selection

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  • Yehuda (John) Levy

Abstract

We construct a continuum of games on a countable set of players that does not possess a measurable equilibrium selection that satisfies a natural homogeneity property. The explicit nature of the construction yields counterexamples to the existence of equilibria in models with overlapping generations and in games with a continuum of players.

Suggested Citation

  • Yehuda (John) Levy, 2012. "A Cantor Set of Games with No Shift-Homogeneous Equilibrium Selection," Discussion Paper Series dp607, The Federmann Center for the Study of Rationality, the Hebrew University, Jerusalem.
  • Handle: RePEc:huj:dispap:dp607
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    File URL: http://ratio.huji.ac.il/sites/default/files/publications/dp607.pdf
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    References listed on IDEAS

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    1. John C. Harsanyi & Reinhard Selten, 1988. "A General Theory of Equilibrium Selection in Games," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262582384, January.
    2. Galor, Oded, 1992. "A Two-Sector Overlapping-Generations Model: A Global Characterization of the Dynamical System," Econometrica, Econometric Society, vol. 60(6), pages 1351-1386, November.
    3. Khan, M. Ali & Sun, Yeneng, 2002. "Non-cooperative games with many players," Handbook of Game Theory with Economic Applications,in: R.J. Aumann & S. Hart (ed.), Handbook of Game Theory with Economic Applications, edition 1, volume 3, chapter 46, pages 1761-1808 Elsevier.
    4. Hannu Salonen, 2010. "On the existence of Nash equilibria in large games," International Journal of Game Theory, Springer;Game Theory Society, vol. 39(3), pages 351-357, July.
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    Cited by:

    1. Yehuda (John) Levy, 2012. "A Discounted Stochastic Game with No Stationary Equilibria: The Case of Absolutely Continuous Transitions," Discussion Paper Series dp612, The Federmann Center for the Study of Rationality, the Hebrew University, Jerusalem.
    2. Yehuda John Levy, 2016. "Projections and functions of Nash equilibria," International Journal of Game Theory, Springer;Game Theory Society, vol. 45(1), pages 435-459, March.

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