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We call a correspondence, defined on the set of mixed strategy profiles, a generalized best reply correspondence if it has (1) a product structure, is (2) upper semi-continuous, (3) always includes a best reply to any mixed strategy profile, and is (4) convex- and closed-valued. For each...
Persistent link: https://www.econbiz.de/10010319961
This paper provides an in-depth study of the (most) refined best reply correspondence introduced by Balkenborg, Hofbauer, and Kuzmics (2012). An example demonstrates that this correspondence can be very different from the standard best reply correspondence. In two-player games, however, the...
Persistent link: https://www.econbiz.de/10010319972
In John Nash’s proofs for the existence of (Nash) equilibria based on Brouwer’s theorem, an iteration mapping is used. A continuous—time analogue of the same mapping has been studied even earlier by Brown and von Neumann. This differential equation has recently been suggested as a...
Persistent link: https://www.econbiz.de/10010261668
In John Nash’s proofs for the existence of (Nash) equilibria based on Brouwer’s theorem, an iteration mapping is used. A continuous- time analogue of the same mapping has been studied even earlier by Brown and von Neumann. This differential equation has recently been suggested as a plausible...
Persistent link: https://www.econbiz.de/10011422131
Brown and von Neumann introduced a dynamical system that converges to saddle points of zero sum games with finitely many strategies. Nash used the mapping underlying these dynamics to prove existence of equilibria in general games. The resulting Brown--von Neumann--Nash dynamics are a benchmark...
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We call a correspondence, defined on the set of mixed strategy profiles, a generalized best reply correspondence if it has (1) a product structure, is (2) upper semi-continuous, (3) always includes a best reply to any mixed strategy profile, and is (4) convex- and closed-valued. For each...
Persistent link: https://www.econbiz.de/10009231404