Equilibrium Existence in Global Games with General Payoff Structures

التفاصيل البيبلوغرافية
العنوان: Equilibrium Existence in Global Games with General Payoff Structures
المؤلفون: Eric Hoffmann, Tarun Sabarwal
المصدر: SSRN Electronic Journal.
بيانات النشر: Elsevier BV, 2017.
سنة النشر: 2017
مصطلحات موضوعية: Computer Science::Computer Science and Game Theory, Strategic complements, General equilibrium theory, 05 social sciences, Stochastic game, ComputingMilieux_PERSONALCOMPUTING, 050301 education, TheoryofComputation_GENERAL, Absolute continuity, Equilibrium selection, Complementarity (molecular biology), Product (mathematics), Economics, 0501 psychology and cognitive sciences, 0503 education, Mathematical economics, Global game, 050104 developmental & child psychology, Mathematics
الوصف: We consider global games with general payoff structures and prove existence of equilibrium. This shows that the global games’ method is well defined with arbitrary strategic interaction among players, thus providing a foundation for the study of more general equilibrium behavior, especially as research in global games moves beyond the case of strategic complements. We also show that, in every global game, even though the information of each player is correlated, the joint information measure is absolutely continuous with respect to the product of its marginals. As one application, the result here can be used to show the existence of equilibrium in global games with both complementarity and congestion. This proves existence of equilibrium in a finite-player version of the model in Karp et al. (Games Econ Behav 60:155–175, 2007), thus addressing a gap in the proof of equilibrium existence documented in Hoffmann and Sabarwal (Games Econ Behav 94:188–190, 2015).
تدمد: 1556-5068
DOI: 10.2139/ssrn.3322660
URL الوصول: https://explore.openaire.eu/search/publication?articleId=doi_dedup___::43cf42d8af2e90e86abc7701c35259cb
https://doi.org/10.2139/ssrn.3322660
Rights: OPEN
رقم الانضمام: edsair.doi.dedup.....43cf42d8af2e90e86abc7701c35259cb
قاعدة البيانات: OpenAIRE
الوصف
تدمد:15565068
DOI:10.2139/ssrn.3322660