Documentos de trabajo Mixed equilibria in games of strategic complementarities
نویسنده
چکیده
The literature on games of strategic complementarities (GSC) has focused on pure strategies. I introduce mixed strategies and show that, when strategy spaces are one-dimensional, the complementarities framework extends to mixed strategies ordered by rst-order stochastic dominance. In particular, the mixed extension of a GSC is a GSC, the full set of equilibria is a complete lattice and the extremal equilibria (smallest and largest) are in pure strategies. The framework does not extend when strategy spaces are multi-dimensional. I also update learning results for GSC using stochastic ctitious play.
منابع مشابه
Documentos de trabajo Extensive form games and strategic complementarities
I prove the subgame-perfect equivalent of the basic result for Nash equilibria in normal-form games of strategic complements: the set of subgame-perfect equilibria is a non-empty, complete lattice. For this purpose I introduce a device that allows the study of the set of subgame-perfect equilibria as the set of xed points of a correspondence. The correspondence has a natural interpretation. My ...
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In games with strict strategic complementarities, properly mixed Nash equilibria— equilibria that are not in pure strategies—are unstable for a broad class of learning dynamics. Journal of Economic Literature Classification Numbers: C72, C73.
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I characterize games for which there is an order on strategies such that the game has strategic complementarities. I prove that, with some qualifications, games with a unique equilibrium have complementarities if and only if Cournot bestresponse dynamics has no cycles; and that all games with multiple equilibria have complementarities. As applications of my results, I show: 1. That generic 2X2 ...
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