A contraction principle for finite global games
نویسندگان
چکیده
منابع مشابه
Division of the Humanities and Social Sciences California Institute of Technology Pasadena, California 91125 a Contraction Principle for Finite Global Games
I provide a new proof of uniqueness of equilibrium in a wide class of global games. I show that the joint best-response in these games is a contraction. The uniqueness result then follows as a corollary of the contraction property. Furthermore, the contraction mapping approach provides a revealing intuition for why uniqueness arises: Complementarities in games generate multiplicity of equilibri...
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ژورنال
عنوان ژورنال: Economic Theory
سال: 2008
ISSN: 0938-2259,1432-0479
DOI: 10.1007/s00199-008-0411-3