Two Examples of Equilibrium Nonexistence

Jamison Julian C. ()
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Jamison Julian C.: Office of Research, Consumer Financial Protection Bureau, 1700 G St NW Washington District of Columbia 20552, USA

Mathematical Economics Letters, 2014, vol. 1, issue 2-4, 55-60

Abstract: We present two simple situations in which SPE or NE fail to exist, even though intuition and the motivations for the definitions strongly suggest that they ought to. That is, nonexistence is due merely to technical barriers rather than fundamental barriers inherent in the structure of the situations (as occurs e.g. with auctions). Possibly resolutions are discussed.

Keywords: Nash equilibrium existence; Subgame perfection; Noncredible threats; Countable action spaces; Nash equilibrium existence; Subgame perfection; Noncredible threats; Countable action spaces (search for similar items in EconPapers)
JEL-codes: C62 C72 C73 N01 (search for similar items in EconPapers)
Date: 2014
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DOI: 10.1515/mel-2013-0018

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