Article ID Journal Published Year Pages File Type
957756 Journal of Economic Theory 2007 10 Pages PDF
Abstract

We introduce a condition, uniform payoff security, for games with compact Hausdorff strategy spaces and payoffs bounded and measurable in players’ strategies. We show that if any such compact game G   is uniformly payoff secure, then its mixed extension G¯ is payoff secure. We also establish that if a uniformly payoff secure compact game G   has a mixed extension G¯ with reciprocally upper semicontinuous payoffs, then G has a Nash equilibrium in mixed strategies. We provide several economic examples of compact games satisfying uniform payoff security.

Related Topics
Social Sciences and Humanities Economics, Econometrics and Finance Economics and Econometrics
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