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Aggregate Representations of Aggregate Games

  • Martimort, David
  • Stole, Lars

An aggregate game is a normal-form game with the property that each player’s payoff is a function only of his own strategy and an aggregate function of the strategy profile of all players. Aggregate games possess a set of purely algebraic properties that can often provide simple characterizations of equilibrium aggregates without first requiring that one solves for the equilibrium strategy profile. The defining nature of payoffs in an aggregate game allows one to project the n-player strategic analysis of a normal form game onto a lower-dimension aggregate-strategy space, thereby converting an n-player game to a simpler object – a self-generating single-person maximization program. We apply these techniques to a number of economic settings including competition in supply functions and multi-principal common agency games with nonlinear transfer functions.

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File URL: http://mpra.ub.uni-muenchen.de/32871/1/MPRA_paper_32871.pdf
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Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 32871.

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Date of creation: 23 Jun 2011
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Handle: RePEc:pra:mprapa:32871
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  12. Novshek, William, 1984. "Finding All n-Firm Cournot Equilibria," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 25(1), pages 61-70, February.
  13. Kukushkin, Nikolai S., 2004. "Best response dynamics in finite games with additive aggregation," Games and Economic Behavior, Elsevier, vol. 48(1), pages 94-110, July.
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  15. Novshek, William, 1985. "On the Existence of Cournot Equilibrium," Review of Economic Studies, Wiley Blackwell, vol. 52(1), pages 85-98, January.
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  17. Klemperer, Paul D & Meyer, Margaret A, 1989. "Supply Function Equilibria in Oligopoly under Uncertainty," Econometrica, Econometric Society, vol. 57(6), pages 1243-77, November.
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