Pareto-undominated and socially-maximal equilibria in non-atomic games

B-Tier
Journal: Journal of Mathematical Economics
Year: 2015
Volume: 58
Issue: C
Pages: 7-15

Authors (2)

Score contribution per author:

1.005 = (α=2.01 / 2 authors) × 1.0x B-tier

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

Abstract

This paper makes the observation that a finite Bayesian game with diffused and disparate private information can be conceived of as a large game with a non-atomic continuum of players. By using this observation as its methodological point of departure, it shows that (i) a Bayes–Nash equilibrium (BNE) exists in a finite Bayesian game with private information if and only if a Nash equilibrium exists in the induced large game, and (ii) both Pareto-undominated and socially-maximal BNE exist in finite Bayesian games with private information. In particular, it shows these results to be a direct consequence of results for a version of a large game re-modeled for situations where different players may have different action sets.

Technical Details

RePEc Handle
repec:eee:mateco:v:58:y:2015:i:c:p:7-15
Journal Field
Theory
Author Count
2
Added to Database
2026-01-29