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An isotone pure strategy equilibrium exists in any game of incomplete information in which (1) each player i's action set is a finite sublattice of multi-dimensional Euclidean space, (2) types are multidimensional and atomless, and each player's interim expected payoff function satisfies two...
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Every mixed strategy equilibrium is outcome equivalent to a monotone pure strategy equilibrium in asymmetric first-price auctions in which n bidders have affiliated, one-dimensional, atomless types and interdependent values
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An isotone pure strategy equilibrium exists in any game of incomplete information in which (1) each player i's action set is a finite sublattice of multi-dimensional Euclidean space, (2) types are multidimensional and atomless, and each player's interim expected payoff function satisfies two...
Persistent link: https://www.econbiz.de/10014033657
This paper characterizes the social-welfare maximizing equilibrium of a stochastic partnership matching market, in which players paired to play a stochastic game may quit to be costlessly and anonymously re-matched. Patterns of performance and turnover in this equilibrium are consistent with the...
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This paper develops a Nash-equilibrium extension of the classic SIR model of infectious-disease epidemiology ("Nash SIR"), endogenizing people's decisions whether to engage in economic activity during a viral epidemic and allowing for complementarity in social-economic activity. An equilibrium...
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