Kozhan, Roman and Zarichnyi, Michael. (2008) Nash equilibria for games in capacities. Economic Theory, Vol.35 (No.2). pp. 321-331. ISSN 0938-2259

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Abstract

This paper provides a formal generalization of Nash equilibrium for games under Knightian uncertainty. The paper is devoted to counterparts of the results of Glycopantis and Muir (Econ Theory 13:743-751, 1999, Econ Theory 16:239-244, 2000) for capacities. We prove that the expected payoff defined as the integral of a payoff function with respect to the tensor product of capacities on compact Hausdorff spaces of pure strategies is continuous if so is the payoff function. We prove also an approximation theorem for Nash equilibria when the expected utility payoff functions are defined on the space of capacities.

Item Type:	Journal Article
Subjects:	H Social Sciences > HB Economic Theory
Divisions:	Faculty of Social Sciences > Warwick Business School > Financial Econometrics Research Centre Faculty of Social Sciences > Warwick Business School > Finance Group Faculty of Social Sciences > Warwick Business School
Library of Congress Subject Headings (LCSH):	Uncertainty, Risk, Equilibrium (Economics), Game theory, Fuzzy measure theory
Journal or Publication Title:	Economic Theory
Publisher:	Springer
ISSN:	0938-2259
Date:	May 2008
Volume:	Vol.35
Number:	No.2
Number of Pages:	11
Page Range:	pp. 321-331
Identification Number:	10.1007/s00199-007-0241-8
Status:	Peer Reviewed
Publication Status:	Published
Access rights to Published version:	Restricted or Subscription Access
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URI:	http://wrap.warwick.ac.uk/id/eprint/30582

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