Games With a Continuum of Players

Guilherme Carmona

Chapter 7 in Existence and Stability of Nash Equilibrium, 2013, pp 113-126 from World Scientific Publishing Co. Pte. Ltd.

Abstract: AbstractMany economic situations feature a large number of participants. For example, several markets have a large number of buyers and sellers; also, driving in a big city involves the coordination of a large number of drivers. A useful abstraction when formalizing such situations using a normal-form game is to assume that there is a continuum of players. Such an assumption is similar in spirit to standard assumption in economics that prices and quantities can vary continuously and, like those assumptions, is made to make the analysis simpler. This is so partly because, in games with a continuum of players, the impact of each individual on the distribution of actions is negligible, which is also an appropriate property to have when studying interactions between a large number of players…

Keywords: Nash Equilibrium; Existence; Stability; Discontinuous Games (search for similar items in EconPapers)
Date: 2013
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