A Cantor Set of Games with No Shift-Homogeneous Equilibrium Selection

Authors: 
Yehuda (John) Levy
Abstract: 

We construct a continuum of games on a countable set of players that does not possess a measurable equilibrium selection that satisfies a natural homogeneity property. The explicit nature of the construction yields counterexamples to the existence of equilibria in models with overlapping generations and in games with a continuum of players.

Date: 
April, 2012
Number: 
607