Is having a unique equilibrium robust?

B-Tier
Journal: Journal of Mathematical Economics
Year: 2008
Volume: 44
Issue: 11
Pages: 1152-1160

Score contribution per author:

2.011 = (α=2.01 / 1 authors) × 1.0x B-tier

α: calibrated so average coauthorship-adjusted count equals average raw count

Abstract

We investigate whether having a unique equilibrium (or a given number of equilibria) is robust to perturbation of the payoffs, both for Nash equilibrium and correlated equilibrium. We show that the set of n-player finite games with a unique correlated equilibrium is open, while this is not true of Nash equilibrium for n>2. The crucial lemma is that a unique correlated equilibrium is a quasi-strict Nash equilibrium. Related results are studied. For instance, we show that generic two-person zero-sum games have a unique correlated equilibrium and that, while the set of symmetric bimatrix games with a unique symmetric Nash equilibrium is not open, the set of symmetric bimatrix games with a unique and quasi-strict symmetric Nash equilibrium is.

Technical Details

RePEc Handle
repec:eee:mateco:v:44:y:2008:i:11:p:1152-1160
Journal Field
Theory
Author Count
1
Added to Database
2026-01-29