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On p-beauty contest integer games

Author

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  • Rafael López

Abstract

In this paper we provide a full characterization of the pure-strategy Nash Equilibria for the p-Beauty Contest Game when we restrict player’s choices to integer numbers. Opposed to the case of real number choices, equilibrium uniqueness may be lost depending on the value of p and the number of players: in particular, as p approaches 1 any symmetric profile constitutes a Nash Equilibrium. We also show that any experimental p-Beauty Contest Game can be associated to a game with the integer restriction and thus multiplicity of equilibria becomes an issue. Finally, we show that in these games the iterated deletion of weakly dominated strategies may not lead to a single outcome while the iterated best-reply process always does (though the outcome obtained depends on the initial conditions).

Suggested Citation

  • Rafael López, 2001. "On p-beauty contest integer games," Economics Working Papers 608, Department of Economics and Business, Universitat Pompeu Fabra.
  • Handle: RePEc:upf:upfgen:608
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    Cited by:

    1. Antoni Bosch-Domènech & José G. Montalvo & Rosemarie Nagel & Albert Satorra, 2002. "One, Two, (Three), Infinity, ...: Newspaper and Lab Beauty-Contest Experiments," American Economic Review, American Economic Association, vol. 92(5), pages 1687-1701, December.

    More about this item

    Keywords

    Beauty contest; multiple equilibria; iterated dominance; iterated best-reply; Leex;
    All these keywords.

    JEL classification:

    • C72 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Noncooperative Games

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