We prove the generic equivalence between quasi-perfect equilibrium and sequential equilibrium. Combining this result with Blume and Zame (1994) shows that perfect, quasi-perfect and sequential equilibrium coincide in generic games

We present an experiment in which extrinsic information (signals) may generate sunspot equilibria. The underlying coordination game has a unique symmetric non-sunspot equilibrium, which is also risk-dominant. Other equilibria can be ordered according to risk dominance. We introduce salient but...

Abstract. Query auctions are iterative auctions in which bidders have to select in each round an action from a finite set. We show that, when bidders have continuous valuations, any ex post equilibrium in an ex post individually rational query auction can only be ex post efficient when the...

Static stability of equilibrium in strategic games differs from dynamic stability in not being linked to any particular dynamical system. In other words, it does not make any assumptions about off-equilibrium behavior. Examples of static notions of stability include evolutionarily stable...

Two types of auction were introduced on the Internet a few years ago and have rapidly been gaining widespread popularity. In both auctions, players compete for an exogenously determined prize by independently choosing an integer in some finite and common strategy space specified by the...

We derive the existence of a Walras equilibrium directly from Nash's theorem on noncooperative games. No price player is involved, nor are generalized games. Instead we use a variant of the Shapley-Shubik trading-post game

We consider a class of three-player queuing games where players independently choose when to arrive at a bottleneck facility that serves only one at a time. Players are impatient for service but cannot arrive before the facility opens and they dislike time spent in queue. We derive the...

This chapter is devoted to the study of Nash equilibria, and correlated equilibria in both finite and infinite games. We restrict our discussions to only those properties that are somewhat special to the case of two-person games. Many of these properties fail to extend even to three-person...

This chapter examines the conceptual foundations of the concept of strategic equilibrium and its various variants and refinements. The emphasis is very much on the underlying ideas rather than on any technical details.After an examination of some pre-equilibrium ideas, in particular the concept...