A Note on the Existence of Nash Equilibrium in Games with Discontinuous
نویسنده
چکیده
This paper generalises the approach taken by Dasgupta & Maskin (1986) and Simon (1989) and provides necessary and su¢ cient conditions for the existence of pure and mixed strategy Nash equilibrium in games with continuous strategy spaces and discontinuous payo¤ functions. The conditions can be applied widely, and examples for existence of pure strategy and monotonic equilibria in First-Price auctions are provided. The conditions are also appropriate for ensuring that computer generated equilibrium solutions can be extended to continuous strategy spaces. Keywords: Nash Equilibrium, Discontinuous Payo¤ Function, FirstPrice Auctions. JEL Classi cation: C70, D44 A Note on the Existence of Nash Equilibrium in Games with Discontinuous Payo¤s
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