Fixed Points of Parameterized Perturbations

Andrew McLennan ()

No 526, Discussion Papers Series from University of Queensland, School of Economics

Abstract: The effect of perturbing a parameter—comparative statics—is, of course, a familiar and important issue in economic analysis. Perfection of a single Nash equilibrium (Selten (1975)) is defined by requiring that at least some perturbations in a given class give rise to perturbed games that have nearby equilibria. Roughly, Kohlberg and Mertens (1986) define strategic stability of a set of equilibria by requiring that for all sufficiently small perturbations, the perturbed games have equilibria near the set. This note presents a topological result concerning the behavior of such nearby equilibria when there is a function from a neighborhood of the relevant set of equilibria to the space of perturbations.

Date: 2014-07-21
New Economics Papers: this item is included in nep-gth and nep-mic
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Journal Article: Fixed points of parameterized perturbations (2014)
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Persistent link: https://EconPapers.repec.org/RePEc:qld:uq2004:526

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