We prove that a single-valued solution of perfectly competitive TU economies underlying nonatomic exact market games is uniquely determined as the Mertens [23] value by four plausible value-related axioms. Since the Mertens value is always a core element, this result provides an axiomatization...

Harsányi [4] showed that Bayesian games over finite games of payoff uncertainty with finite sets of belief types always admit Bayesian equilibria. That still left the question of whether Bayesian games over finite games of payoff uncertainty with infinitely many types are guaranteed to have...