On the existence of pure-strategy equilibria in large games

Guilherme Carmona and Konrad Podczeckz

Nova SBE Working Paper Series from Universidade Nova de Lisboa, Nova School of Business and Economics

Abstract: Over the years, several formalizations and existence results for games with a continuum of players have been given. These include those of Schmeidler (1973), Rashid (1983), Mas-Colell (1984), Khan and Sun (1999) and Podczeck (2007a). The level of generality of each of these existence results is typically regarded as a criterion to evaluate how appropriate is the corresponding formalization of large games. In contrast, we argue that such evaluation is pointless. In fact, we show that, in a precise sense, all the above existence results are equivalent. Thus, all of them are equally strong and therefore cannot rank the different formalizations of large games.

Keywords: Nash equilibrium; pure strategies; approximation; equilibrium distributions (search for similar items in EconPapers)
Pages: 34 pages
Date: 2008
New Economics Papers: this item is included in nep-gth
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Citations: View citations in EconPapers (1)

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Journal Article: On the existence of pure-strategy equilibria in large games (2009)
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Persistent link: https://EconPapers.repec.org/RePEc:unl:unlfep:wp531

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