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We prove that for generic plurality games with positive cost of voting, the number of Nash equilibria is finite. Furthermore all the equilibria are regular, hence stable sets as singletons. Copyright Springer-Verlag Berlin/Heidelberg 2005
Persistent link: https://www.econbiz.de/10005370863
This paper considers electoral competition between two office-motivated parties and one voter, in the presence of two alternative policies and under imperfect information. The theory of refinements of Nash equilibrium predicts the outcome of this three-player game: both parties faithfully use...
Persistent link: https://www.econbiz.de/10005371016
Consider a solution (an allocation rule) for an economy which satisfies the following criteria: (1) Pareto efficiency, (2) monotonicity, in the sense that if the set of attainable allocations of the economy becomes larger then the solution makes no consumer worse-off, (3) a weak and primitive...
Persistent link: https://www.econbiz.de/10005370651