A new equilibrium existence via connectedness

  • Rim, Dong-Il (Department of Mathematics and Department of Mathematics Education, Chungbuk National University, Cheongju 360-763) ;
  • Im, Sung-Mo (Department of Mathematics and Department of Mathematics Education, Chungbuk National University, Cheongju 360-763) ;
  • Kim, Won-Kyu (Department of Mathematics and Department of Mathematics Education, Chungbuk National University, Cheongju 360-763)
  • Published : 1996.11.01

Abstract

In 1950, Nash [5] first proved the existence of equilibrium for games where the player's preferences are representable by continuous quasiconcave utilities and the strategy sets are simplexes. Next Debreu [3] proved the existence of equilibrium for abstract economies. Recently, the existence of Nash equilibrium can be further generalized in more general settings by several athors, e.g. Shafer-Sonnenschein [6], Borglin-Keiding [2], Yannelis-Prabhaker [8]. In the above results, the convexity assumption is very essential and the main proving tools are the continuous selection technique and the existence of maximal elements. Still there have been a number of generalizations and applications of equilibrium existence theorem in generalized games.

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