Every symmetric 3 x 3 global game of strategic complementarities is noise independent

Christian Basteck and Tijmen Daniëls

No 2010-061, SFB 649 Discussion Papers from Humboldt University Berlin, Collaborative Research Center 649: Economic Risk

Abstract: We prove that the global game selection in all 3 x 3 payoff-symmetric supermodular games is independent of the noise structure. As far as we know, all other proofs of noise independence of such games rely on the existence of a so-called monotone potential (MP) maximiser. Our result is more general, since some 3 x 3 symmetric supermodular games do not admit an MP maximiser. Moreover, a corollary is that noise independence does not imply the existence of an MP maximiser.

Keywords: global games; noise independence (search for similar items in EconPapers)
JEL-codes: C72 D82 (search for similar items in EconPapers)
Date: 2010
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