Equilibrium existence in games with a concave Bayesian potential

Ezra Einy; Ori Haimanko

doi:10.1016/j.geb.2020.07.009

Equilibrium existence in games with a concave Bayesian potential

Ezra Einy, Ori Haimanko

Department of Economics

Ben-Gurion University of the Negev

Research output: Contribution to journal › Article › peer-review

Abstract

We establish existence of a pure-strategy Bayesian Nash equilibrium in Bayesian games that have a continuous and concave potential at all states of nature, without assuming absolute continuity of information. As an application, we show that Bayesian Nash equilibrium exists in many well-known games that have semi-quadratic payoffs (including Bertrand and Cournot oligopolies with linear demand), for general information structures.

Original language	American English
Pages (from-to)	288-294
Number of pages	7
Journal	Games and Economic Behavior
Volume	123
DOIs	https://doi.org/10.1016/j.geb.2020.07.009
State	Published - 1 Sep 2020

Keywords

Absolute continuity
Bayesian games
Bayesian potential
Concave payoffs
Equilibrium existence
Information structures

All Science Journal Classification (ASJC) codes

Finance
Economics and Econometrics

Access to Document

10.1016/j.geb.2020.07.009

Cite this

@article{086041892403490199c7c75dd6fde9ae,

title = "Equilibrium existence in games with a concave Bayesian potential",

abstract = "We establish existence of a pure-strategy Bayesian Nash equilibrium in Bayesian games that have a continuous and concave potential at all states of nature, without assuming absolute continuity of information. As an application, we show that Bayesian Nash equilibrium exists in many well-known games that have semi-quadratic payoffs (including Bertrand and Cournot oligopolies with linear demand), for general information structures.",

keywords = "Absolute continuity, Bayesian games, Bayesian potential, Concave payoffs, Equilibrium existence, Information structures",

author = "Ezra Einy and Ori Haimanko",

note = "Publisher Copyright: {\textcopyright} 2020 Elsevier Inc.",

year = "2020",

month = sep,

day = "1",

doi = "10.1016/j.geb.2020.07.009",

language = "American English",

volume = "123",

pages = "288--294",

journal = "Games and Economic Behavior",

issn = "0899-8256",

publisher = "Academic Press Inc.",

}

TY - JOUR

T1 - Equilibrium existence in games with a concave Bayesian potential

AU - Einy, Ezra

AU - Haimanko, Ori

PY - 2020/9/1

Y1 - 2020/9/1

N2 - We establish existence of a pure-strategy Bayesian Nash equilibrium in Bayesian games that have a continuous and concave potential at all states of nature, without assuming absolute continuity of information. As an application, we show that Bayesian Nash equilibrium exists in many well-known games that have semi-quadratic payoffs (including Bertrand and Cournot oligopolies with linear demand), for general information structures.

AB - We establish existence of a pure-strategy Bayesian Nash equilibrium in Bayesian games that have a continuous and concave potential at all states of nature, without assuming absolute continuity of information. As an application, we show that Bayesian Nash equilibrium exists in many well-known games that have semi-quadratic payoffs (including Bertrand and Cournot oligopolies with linear demand), for general information structures.

KW - Absolute continuity

KW - Bayesian games

KW - Bayesian potential

KW - Concave payoffs

KW - Equilibrium existence

KW - Information structures

UR - http://www.scopus.com/inward/record.url?scp=85088857180&partnerID=8YFLogxK

U2 - 10.1016/j.geb.2020.07.009

DO - 10.1016/j.geb.2020.07.009

M3 - Article

SN - 0899-8256

VL - 123

SP - 288

EP - 294

JO - Games and Economic Behavior

JF - Games and Economic Behavior

ER -

Equilibrium existence in games with a concave Bayesian potential

Abstract

Keywords

All Science Journal Classification (ASJC) codes

Access to Document

Other files and links

Fingerprint

Cite this