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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.
Persistent link: https://www.econbiz.de/10010843401
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.
Persistent link: https://www.econbiz.de/10010843451
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 best-response dynamics has no cycles; and that all games with...
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Changes in the parameters of an n-dimensional system of equations induce changes in its solutions. For a class of such systems, we determine the qualitative change in solutions given certain qualitative changes in parameters. Our methods and results are elementary yet useful. They highlight the...
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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 first-order stochastic dominance. In...
Persistent link: https://www.econbiz.de/10005370895