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Balder's (2002) model of games with a measure space of players is integrated with the line of research on finite-player games with discontinuous payoff functions which follows Reny (1999). Specifically, we extend the notion of continuous security, introduced by McLennan, Monteiro and Tourky...
Persistent link: https://www.econbiz.de/10011108045
Balder's [6] model of games with a measure space of players is integrated with the line of research on finite-player games with discontinuous payoff functions which follows Reny [47]. Specifically, we extend the notion of continuous security, introduced by McLennan, Monteiro & Tourky [38] and...
Persistent link: https://www.econbiz.de/10010785026
We present a result on approximate ex-post stability of Bayes–Nash equilibria in semi-anonymous Bayesian games with a large finite number of players. The result allows playersʼ action and type spaces to be general compact metric spaces, thus extending a result by Kalai (2004).
Persistent link: https://www.econbiz.de/10011049809
Over the years, several formalizations and existence results for games with a continuum of players have been given. These include those of Schmeidler [D. Schmeidler, Equilibrium points of nonatomic games, J. Stat. Phys. 4 (1973) 295-300], Rashid [S. Rashid, Equilibrium points of non-atomic...
Persistent link: https://www.econbiz.de/10005005942
It is shown that core-Walras equivalence fails whenever the commodity space is a non-separable Banach space. The interpretation is that a large number of agents guarantees core-Walras equivalence only if there is actually a large number of agents relative to the size of the commodity space....
Persistent link: https://www.econbiz.de/10005371115
Persistent link: https://www.econbiz.de/10005388129
More importantly, it also provides foundations to random matching models of continuum populations with infinitely many types, which are currently used in the literature without an explicit justification.
Persistent link: https://www.econbiz.de/10011080813
We present a result on convexity and weak compactness of the range of a vector measure with values in a Banach space, based on the Maharam classification of measure spaces. Our result extends a recent result of Khan and Sagara [Illinois Journal of Mathematics, forthcoming].
Persistent link: https://www.econbiz.de/10010839595
Persistent link: https://www.econbiz.de/10004993118
The traditional deterministic general equilibrium theory with infinitely many commodities cannot cover economies with private information constraints on the consumption sets. We bring the level of asymmetric information equilibrium theory at par with that of the deterministic one. In particular,...
Persistent link: https://www.econbiz.de/10005058463