Albano, G.L. and Matros, A. (2002) Existence of mixed strategy equilibria in a class of discontinuous games with unbounded strategy sets. (ELSE Working Papers 44). ESRC Centre for Economic Learning and Social Evolution: London, UK.
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Abstract
We prove existence of mixed strategy equilibria for a class of discontinuous two-player games with non-compact strategy sets. As a corollary of our main results, we obtain a continuum of mixed strategy equilibria for the first- and second-price two-bidder auctions with toeholds. We also find Klemperer’s (2000) result about the existence of mixed strategy equilibria in the classical Bertrand duopoly.
| Type: | Working / discussion paper |
|---|---|
| Title: | Existence of mixed strategy equilibria in a class of discontinuous games with unbounded strategy sets |
| Open access status: | An open access version is available from UCL Discovery |
| Publisher version: | http://else.econ.ucl.ac.uk/newweb/papers.php#2002 |
| Language: | English |
| Keywords: | JEL classification: C72, D43, D44. Discontinuous games, Bertrand game, toehold, first- and second-price auctions |
| UCL classification: | UCL > School of Arts and Social Sciences > Faculty of Social and Historical Sciences > Economics |
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