On a theorem of Schmeidler (Q1057784)
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English | On a theorem of Schmeidler |
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On a theorem of Schmeidler (English)
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1984
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Over a decade ago, \textit{D. Schmeidler} [J. Stat. Phys. 7, No. 4, 295--300 (1973; Zbl 1255.91031)] introduced a concept of noncooperative equilibrium for games with a continuum of agents and, under a restriction on the payoff functions, established the existence of an equilibrium in pure strategies. The purpose of this note is to reformalize the model and the equilibrium notion of Schmeidler in terms of distributions rather than measurable functions. We shall see how once the definitions are available we get (pure strategy) equilibrium existence theorems quite effortlessly and under general conditions. A number of remarks contain applications to, among others, incomplete information games.
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noncooperative equilibrium
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continuum of agents
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equilibrium existence theorems
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incomplete information games
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