Equilibrium Existence and Uniqueness in Public Good Models: An Elementary Proof via Contraction
This paper presents a proof for existence and uniqueness of a Nash equilibrium of a public good model that exploits a simple contraction mapping. The proof establishes both existence and uniqueness in a single exercise that provides intuition about sufficiency. The method of proof is applied not only to the basic pure public good model but also to the impure model. In the latter model, income normality does not play the same pivotal role for existence and uniqueness. Copyright 1999 by Blackwell Publishing Inc.
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|Date of creation:||1999|
|Publication status:||Published in Journal of Public Economic Theory, Vol. 1, 1999, pages 499 - 509.|
|Contact details of provider:|| Postal: Department of Economics, University of Keele, Keele, Staffordshire, ST5 5BG - United Kingdom|
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Web page: http://www.keele.ac.uk/depts/ec/cer/
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|Order Information:|| Postal: Department of Economics, Keele University, Keele, Staffordshire ST5 5BG - United Kingdom|
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