We provide a shorter proof of the main result in Reny and Perry (2006, Econometrica) by establishing a lower semicontinuity property of auctions as the number of traders goes to infinity, leveraging existence of equilibria in the limit auction. Our proof also eliminates two of the assumptions in...

A refinement of the set of Nash equilibria that satisfies two assumptions is shown to select a subset that is stable in the sense defined by Kohlberg and Mertens. One assumption requires that a selected set is invariant to adjoining redundant strategies and the other is a strong version of...

We introduce consistency of beliefs in the space of hierarchies of conditional beliefs (Battigalli and Siniscalchi) and use it to provide epistemic conditions for equilibria in finite multi-stage games with observed actions.

Harris, Reny, and Robson (1995) added a public randomization device to dynamic games with almost perfect information to ensure existence of subgame perfect equilibria (SPE). We show that when Nature's moves are atomless in the original game, public randomization does not enlarge the set of SPE...

In 1997 a review of the financial health of English county cricket highlighted strategic weaknesses within the professional game, principally an over-reliance by clubs on the annual grants provided to them by the England and Wales Cricket Board (ECB). Without such grants the teams, in general...