A Short Proof of Reny's Existence Theorem for Payoff Secure Games

A short proof of Reny (1999)'s equilibrium existence theorem for payoff secure games is provided. At the heart of the proof lies the concept of a multivalued mapping with the local intersection property. By means of the Fan-Browder collective fixed-point theorem, we show an approximate equilibrium existence theorem which covers a number of known games. Reny's theorem follows from it straightforwardly.

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Year of publication:	2008-12
Authors:	Prokopovych, Pavlo
Institutions:	Kyiv School of Economics
Subject:	Discontinuous game \| payoff security \| transfer lower semicontinuity \| approximate Nash equilibrium \| Reny's theorem

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Extent:	application/pdf
Series:	Discussion Papers.
Type of publication:	Book / Working Paper
Language:	English
Notes:	Published in Economic Theory DOI 10.1007/s00199-010-0526-1S Number 12
Classification:	C72 - Noncooperative Games ; C73 - Stochastic and Dynamic Games
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005464588