Equilibrium non-existence in generalized games

Áron Tóbiás

Games and Economic Behavior, 2022, vol. 135, issue C, 327-337

Abstract: A generalized game is a strategic situation in which agents' behavior restricts their opponents' available action choices, giving rise to interdependencies in terms of what strategy profiles remain mutually feasible. This paper proposes a novel example of a simple jointly convex generalized game in which the well-known convexity, compactness, continuity, and concavity assumptions are satisfied, but no Nash equilibrium exists. The essence of this contribution lies in answering a question left open by Banks and Duggan (2004): whether the supplemental condition of lower hemicontinuity of feasibility correspondences can be dropped from these authors' equilibrium-existence theorem. It cannot.

Keywords: Generalized games; Nash equilibrium; Existence (search for similar items in EconPapers)
JEL-codes: C62 C72 (search for similar items in EconPapers)
Date: 2022
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
http://www.sciencedirect.com/science/article/pii/S0899825622001117
Full text for ScienceDirect subscribers only

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:eee:gamebe:v:135:y:2022:i:c:p:327-337

DOI: 10.1016/j.geb.2022.06.012

Access Statistics for this article

Games and Economic Behavior is currently edited by E. Kalai

More articles in Games and Economic Behavior from Elsevier
Bibliographic data for series maintained by Catherine Liu ().