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Strategic behavior in non-atomic games

  • Barlo, Mehmet
  • Carmona, Guilherme

In order to remedy the possible loss of strategic interaction in non-atomic games with a societal choice, this study proposes a refinement of Nash equilibrium, strategic equilibrium. Given a non-atomic game, its perturbed game is one in which every player believes that he alone has a small, but positive, impact on the societal choice; and a distribution is a strategic equilibrium if it is a limit point of a sequence of Nash equilibrium distributions of games in which each player's belief about his impact on the societal choice goes to zero. After proving the existence of strategic equilibria, we show that all of them must be Nash. Moreover, it is displayed that in many economic applications, the set of strategic equilibria coincides with that of Nash equilibria of large finite games.

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Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 35549.

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Date of creation: 13 Dec 2011
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Handle: RePEc:pra:mprapa:35549
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  1. Podczeck, Konrad, 2008. "On the convexity and compactness of the integral of a Banach space valued correspondence," Journal of Mathematical Economics, Elsevier, vol. 44(7-8), pages 836-852, July.
  2. Chari, V V & Kehoe, Patrick J, 1990. "Sustainable Plans," Journal of Political Economy, University of Chicago Press, vol. 98(4), pages 783-802, August.
  3. V.V. Chari & Patrick J. Kehoe, 1989. "Sustainable plans and debt," Staff Report 125, Federal Reserve Bank of Minneapolis.
  4. Carmona, Guilherme, 2008. "Large games with countable characteristics," Journal of Mathematical Economics, Elsevier, vol. 44(3-4), pages 344-347, February.
  5. Guilherme Carmona, 2004. "On the Existence of Pure Strategy Nash Equilibria in Large Games," Game Theory and Information 0412008, EconWPA.
  6. van Damme, E.E.C. & Kühn, H. & Harsanyi, J. & Selten, R. & Weibull, J. & Nash Jr., J. & Hammerstein, P., 1996. "The work of John Nash in game theory," Other publications TiSEM f84995ec-5162-4438-8ca3-8, Tilburg University, School of Economics and Management.
  7. Levine, David K & Pesendorfer, Wolfgang, 1995. "When Are Agents Negligible?," American Economic Review, American Economic Association, vol. 85(5), pages 1160-70, December.
  8. repec:ner:tilbur:urn:nbn:nl:ui:12-73413 is not listed on IDEAS
  9. Aumann, Robert & Brandenburger, Adam, 1995. "Epistemic Conditions for Nash Equilibrium," Econometrica, Econometric Society, vol. 63(5), pages 1161-80, September.
  10. M Ali Khan & Kali P Rath & Yeneng Sun, 1994. "On the Existence of Pure Strategy Equilibria in Games with a Continuum of Players," Economics Working Paper Archive 381, The Johns Hopkins University,Department of Economics, revised Feb 1997.
  11. V.V. Chari & Patrick J. Kehoe, 1989. "Sustainable plans and mutual default," Staff Report 124, Federal Reserve Bank of Minneapolis.
  12. Guilherme Carmona, 2009. "A remark on the measurability of large games," Economic Theory, Springer, vol. 39(3), pages 491-494, June.
  13. Sabourian, Hamid, 1990. "Anonymous repeated games with a large number of players and random outcomes," Journal of Economic Theory, Elsevier, vol. 51(1), pages 92-110, June.
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