@misc{discovery14429, series = {ELSE Working Papers}, title = {Logit dynamic for continuous strategy games: existence of solutions}, month = {August}, number = {270}, publisher = {ESRC Centre for Economic Learning and Social Evolution}, year = {2007}, address = {London, UK}, url = {http://else.econ.ucl.ac.uk/newweb/papers.php#2007}, abstract = {We define the logit dynamic in the space of probability measures for a game with a compact and continuous strategy set. The original Burdett and Judd (1983) model of price dispersion comes under this framework. We then show that if the payoff functions of the game satisfy Lipschitz continuity under the strong topology in the space of signed measures, the logit dynamic admits a unique solution in the space of probability measures. As a corollary, we obtain that logit dynamic generated by the original Burdett and Judd model is well defined.}, author = {Lahkar, R.} }