Download or read book Single Crossing Properties and the Existence of Pure Strategy Nash Equilibria in Games of Incomplete Information written by Susan Athey and published by . This book was released on 2000 with total page 46 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Single Crossing Properties and the Existence of Pure Strategy Equilibria in Games of Incomplete Information written by Susan Athey and published by . This book was released on 2013 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper derives sufficient conditions for a class of games of incomplete information, such as first price auctions, to have pure strategy Nash equilibria (PSNE). The paper treats games between two or more heterogeneous agents, each with private information about his own type (for example, a bidder's value for an object of a firm's marginal cost of production), and the types are drawn from an atomless joint probability distribution which potentially allows for correlation between types. Agents' utility may depend directly on the realizations of other agents' types, as in Milgrom and Weber's (1982) formulation of the "mineral rights" auction. The restriction we consider is that each player's expected payoffs satisfy the following single crossing condition: whenever each opponent uses a nondecreasing strategy (that is, an opponent who has a higher type chooses a higher action), then a player's best response strategy is also nondecreasing in her type. The paper has two main results. The first result shows that, when players are restricted to choose among a finite set of actions (for example, bidding or pricing where the smallest unit is a penny), games where players' objective functions satisfy this single crossing condition will have PSNE. The second result demonstrates that when players' utility functions are continuous, as well as in mineral rights auction games and other games where "winning" creates a discontinuity in payoffs, the existence result can be extended to the case where players choose from a continuum of actions. The paper then applies the theory to several classes of games, providing conditions on utility functions and joint distributions over types under which each class of games satisfies the single crossing condition. In particular, the single crossing condition is shown to hold in all first-price, private value auctions with potentially heterogeneous, risk-averse bidders, with either independent or affiliated values, and with reserve prices which may differ across bidders; mineral rights auctions with two heterogeneous bidders and affiliated values; a class of pricing games with incomplete information about costs; a class of all-pay auction games; and a class of noisy signaling games. Finally, the formulation of the problem introduced in this paper suggests a straightforward algorithm for numerically computing equilibrium bidding strategies in games such as first price auctions, and we present numerical analyses of several auctions under alternative assumptions about the joint distribution of types.
Download or read book Single Crossing Properties and the Existence of Pure Strategy Nash Equilibria in Games of Incomple Information written by Susan Athey and published by . This book was released on 2000 with total page 46 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Handbook of Game Theory written by Petyon Young and published by Elsevier. This book was released on 2014-10-01 with total page 1025 pages. Available in PDF, EPUB and Kindle. Book excerpt: The ability to understand and predict behavior in strategic situations, in which an individual’s success in making choices depends on the choices of others, has been the domain of game theory since the 1950s. Developing the theories at the heart of game theory has resulted in 8 Nobel Prizes and insights that researchers in many fields continue to develop. In Volume 4, top scholars synthesize and analyze mainstream scholarship on games and economic behavior, providing an updated account of developments in game theory since the 2002 publication of Volume 3, which only covers work through the mid 1990s. Focuses on innovation in games and economic behavior Presents coherent summaries of subjects in game theory Makes details about game theory accessible to scholars in fields outside economics
Download or read book Handbook of Game Theory and Industrial Organization Volume I written by Luis C. Corchón and published by Edward Elgar Publishing. This book was released on 2018-02-23 with total page 567 pages. Available in PDF, EPUB and Kindle. Book excerpt: The first volume of this wide-ranging Handbook contains original contributions by world-class specialists. It provides up-to-date surveys of the main game-theoretic tools commonly used to model industrial organization topics. The Handbook covers numerous subjects in detail including, among others, the tools of lattice programming, supermodular and aggregative games, monopolistic competition, horizontal and vertically differentiated good models, dynamic and Stackelberg games, entry games, evolutionary games with adaptive players, asymmetric information, moral hazard, learning and information sharing models.
Download or read book The Existence of Pure strategy Nash Equilibrium in Games with Payoffs that are Not Quasiconcave written by Michael R. Baye and published by . This book was released on 1990 with total page 62 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Oligopoly Pricing written by Xavier Vives and published by MIT Press (MA). This book was released on 1999 with total page 446 pages. Available in PDF, EPUB and Kindle. Book excerpt: Applies a modern game-theoretic approach to develop a theory of oligopoly pricing. The text relates classic contributions to the field of modern game theory and discusses basic game-theoretic tools and equilibrium, paying particular attention to developments in the theory of supermodular games.
Download or read book Handbook of Computational Economics written by Karl Schmedders and published by Newnes. This book was released on 2013-12-31 with total page 680 pages. Available in PDF, EPUB and Kindle. Book excerpt: Handbook of Computational Economics summarizes recent advances in economic thought, revealing some of the potential offered by modern computational methods. With computational power increasing in hardware and algorithms, many economists are closing the gap between economic practice and the frontiers of computational mathematics. In their efforts to accelerate the incorporation of computational power into mainstream research, contributors to this volume update the improvements in algorithms that have sharpened econometric tools, solution methods for dynamic optimization and equilibrium models, and applications to public finance, macroeconomics, and auctions. They also cover the switch to massive parallelism in the creation of more powerful computers, with advances in the development of high-power and high-throughput computing. Much more can be done to expand the value of computational modeling in economics. In conjunction with volume one (1996) and volume two (2006), this volume offers a remarkable picture of the recent development of economics as a science as well as an exciting preview of its future potential. Samples different styles and approaches, reflecting the breadth of computational economics as practiced today Focuses on problems with few well-developed solutions in the literature of other disciplines Emphasizes the potential for increasing the value of computational modeling in economics
Download or read book The Purification Problem for Constrained Games with Incomplete Information written by Helmut Meister and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 127 pages. Available in PDF, EPUB and Kindle. Book excerpt: The approach presented in this book combines two aspects of generalizations of the noncooperative game as developed by Nash. First, players choose their acts dependent on certain information variables, and second there are constraints on the sets of decisions for players. After the derivation of a general (Nash)equilibrium existence theorem, some results from purification theory are used to prove the existence of an approximate equilibrium in pure strategies, that is in nonrandomized decision functions. For some types of payoff-functions and constraints, these games prove to have an (exact) equilibrium in pure strategies. The reason for considering constrained games with incomplete information is that, apart from their game-theoretic importance, they have rather widespread application. Market games with a continuum of traders as well as some statistical decision problems are covered with this approach.
Download or read book Games and Economic Behavior written by and published by . This book was released on 2000 with total page 740 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Existence of Equilibria in Incomplete Information Games with Disturbed Payoffs written by Brian John Crone and published by . This book was released on 1990 with total page 212 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Existence and Properties of Pure Nash Equilibria in Budget Games written by Maximilian Drees and published by . This book was released on 2016 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Game Theory written by Steven N. Durlauf and published by Springer. This book was released on 2016-07-14 with total page 391 pages. Available in PDF, EPUB and Kindle. Book excerpt: Specially selected from The New Palgrave Dictionary of Economics 2nd edition, each article within this compendium covers the fundamental themes within the discipline and is written by a leading practitioner in the field. A handy reference tool.
Download or read book Journal of Economic Theory written by Pennsylvania and published by . This book was released on 2003 with total page 854 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book THE EXISTENCE OF PURE STRATEGY NASH EQUILIBRIUM IN GAMES WITH PAYOFFS THAT ARE NOT QUASINCONCAVE written by Michael R. BAYE and published by . This book was released on 1990 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Existence of Pure strategy Nash Equilibrium in Games with Payoffs that are Not Quasiconcave written by Michael R. Baye and published by . This book was released on 1990 with total page 54 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book On the Existence of Pure Strategy Nash Equilibria in Two Person Discrete Games written by Indrajit Mallick and published by . This book was released on 2011 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: We construct a generalized two-person discrete strategy static game of complete information where continuity, convexity and compactness cannot be invoked to show the existence of Pure Strategy Nash Equilibrium. We show that, when Best Responses are unique from both sides, a condition of Minimal Acyclicity is necessary and sufficient for the existence of Pure Strategy Nash Equilibria.
