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Licensed Unlicensed Requires Authentication Published by De Gruyter May 9, 2014

Two Examples of Equilibrium Nonexistence

Julian C. Jamison

Abstract

We present two simple situations in which SPE or NE fail to exist, even though intuition and the motivations for the definitions strongly suggest that they ought to. That is, nonexistence is due merely to technical barriers rather than fundamental barriers inherent in the structure of the situations (as occurs e.g. with auctions). Possibly resolutions are discussed.

JEL: C62; C72; C73; N01
Published Online: 2014-5-9
Published in Print: 2014-7-28

©2014 Walter de Gruyter Berlin/Boston

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