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This paper investigates the existence of pure strategy, dominant strategy, and mixed strategy Nash equilibria in discontinuous games. We introduce a new notion of weak continuity, called weak transfer quasi-continuity, which is weaker than most known weak notions of continuity, including...
Persistent link: https://www.econbiz.de/10015233676
This paper offers an equilibrium existence theorem in discontinuous games. We introduce a new notion of continuity, called quasi-weak transfer continuity that guarantees the existence of pure strategy Nash equilibrium in compact and quasiconcave games. We also consider possible extensions and...
Persistent link: https://www.econbiz.de/10015243779
While economic historians have stressed the importance of price competition in the protection market, theorists of conflictual activity have argued against the extrapolation of this form of competition in the protection market and favored competition through the quantity of conflictual effort....
Persistent link: https://www.econbiz.de/10015235707
This paper is among the first to theoretically examine the relevance of price competition in the protection market by focusing on the competition between empires. By distinguishing absolute and differential protection rents, we first define coercive rivalry and price competition among empires...
Persistent link: https://www.econbiz.de/10015237753
This paper examines the relevance of price competition in the protection market in order to explain the different modes of empire-building. Our approach unravels the economic rationale of merchant empires which is not explicable with existing theoretical frameworks systematically eluding price...
Persistent link: https://www.econbiz.de/10015247127