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Strategic behavior in non-atomic games

Mehmet Barlo () and Guilherme Carmona

Journal of Mathematical Economics, 2015, vol. 60, issue C, 134-144

Abstract: In order to remedy the possible loss of strategic interaction in non-atomic games with a societal choice, this study proposes a refinement of Nash equilibrium, strategic equilibrium. Given a non-atomic game, its perturbed game is one in which every player believes that he alone has a small, but positive, impact on the societal choice; and a distribution is a strategic equilibrium if it is a limit point of a sequence of Nash equilibrium distributions of games in which each player’s belief about his impact on the societal choice goes to zero. After proving the existence of strategic equilibria, we show that all of them must be Nash. We also show that all regular equilibria of smooth non-atomic games are strategic. Moreover, it is displayed that in many economic applications, the set of strategic equilibria coincides with that of Nash equilibria of large finite games.

Keywords: Nash equilibrium; Strategic equilibrium; Games with a continuum of players; Equilibrium distributions (search for similar items in EconPapers)
Date: 2015
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Working Paper: Strategic behavior in non-atomic games (2011) Downloads
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Persistent link: https://EconPapers.repec.org/RePEc:eee:mateco:v:60:y:2015:i:c:p:134-144

DOI: 10.1016/j.jmateco.2015.07.003

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