Satisficing behavior, Brouwer’s Fixed Point Theorem and Nash Equilibrium

B-Tier
Journal: Economic Theory
Year: 2005
Volume: 26
Issue: 1
Pages: 63-83

Authors (2)

Robert Becker (Indiana University) Subir Chakrabarti (not in RePEc)

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

We show that Nash Equilibrium points can be obtained by using response maps or reply functions that simply use better responses rather than best responses. We demonstrate the existence of a Nash Equilibrium as the fixed point of a better response map and since the better response map is continuous the fixed point can be established by simply using Brouwer’s fixed point theorem. The proof applies to games with a finite number of strategies as well as to games with a continuum of strategies. In case the games have a continuum of strategies the payoff functions have to be continuous on the action sets and quasi concave on the player’s action set. Copyright Springer-Verlag Berlin/Heidelberg 2005

Technical Details

RePEc Handle
repec:spr:joecth:v:26:y:2005:i:1:p:63-83
Journal Field
Theory
Author Count
2
Added to Database
2026-01-24