Article ID | Journal | Published Year | Pages | File Type |
---|---|---|---|---|
957756 | Journal of Economic Theory | 2007 | 10 Pages |
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.
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Social Sciences and Humanities
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Economics and Econometrics
Authors
Paulo Klinger Monteiro, Frank H. Page Jr,