Aggregative games and best-reply potentials |
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Authors: | Martin Kaae Jensen |
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Affiliation: | (1) Faculty of Economics, Yokohama National University, 79-3 Tokiwadai, Hodogaya-ku, Yokohama 240-8501, Japan |
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Abstract: | This paper introduces quasi-aggregative games and establishes conditions under which such games admit a best-reply potential. This implies existence of a pure strategy Nash equilibrium without any convexity or quasi-concavity assumptions. It also implies convergence of best-reply dynamics under some additional assumptions. Most of the existing literature’s aggregation concepts are special cases of quasi-aggregative games, and many new situations are allowed for. An example is payoff functions that depend on own strategies as well as a linear combination of the mean and the variance of players’ strategies. |
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