Bailey, Ralph W.; Kozlovskaya, Maria; Ray, Indrajit - 2025
expected utility is not quasiconcave in strategies. We still prove that any mixed strategy Nash equilibrium profile in which … every player faces a mix over only two positive bids is purifiable, that is, is a mixture of some pure strategy Nash … equilibrium profiles. Moreover, we prove that the outcome (the price and the allocations) is deterministic in any such equilibrium. …