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EXISTENCE OF MIXED STRATEGY EQUILIBRIA IN A CLASS OF DISCONTINUOUS GAMES WITH UNBOUNDED STRATEGY SETS.
Category: Economic Theory
Game Theory III
Monday 26th August 2002, 09:30 - 11:00, Room: 4.2
Session Chair(s):
Alexander Matros, ELSE, UCL, UNITED KINGDOM and Gian Luigi Albano, ELSE, UCL, UNITED KINGDOM
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Abstract:
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We prove the existence of mixed strategy equilibria for a class of discontinuous
two-player games with non-compact strategy sets. We apply this result to obtain
continuum of new mixed strategy equilibria in Bertrand game with two firms.
Moreover, we construct continuum of mixed strategy equilibria in the first- and
second-price auctions with toeholds.
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