Split equilibrium problems for related games and applications to economic theory. (3rd June 2019)

• Record Type: Journal Article
• Authors: Li, Jinlu
• Is Part Of: Optimization. Volume 68:Number 6(2019)
• Page Start: 1203
• Page End: 1222
• Publication Date: 2019-06-03
• Subjects: Fan-KKM theorem -- split Nash equilibrium problem -- convexity direction -- preserved mapping -- extended Bertrand duopoly model of price competition; 49J40 -- 49J52 -- 91A10 -- 91A25 -- 91A80; Mathematical optimization -- Periodicals; 519.7
• DOI: 10.1080/02331934.2019.1576671
• Languages: English
• ISSNs: 0233-1934

Abstract

ABSTRACT: In this paper we introduce the concept of split Nash equilibrium problems associated with two related noncooperative strategic games. Then we apply the Fan-KKM theorem to prove the existence of solutions to split Nash equilibrium problems of related noncooperative strategic games, in which the strategy sets of the players are nonempty closed and convex subsets in Banach spaces. As an application of this existence to economics, an example is provided that studies the existence of split Nash equilibrium of utilities of two related economies. As applications, we study the existence of split Nash equilibrium in the dual (playing twice) extended Bertrand duopoly model of price competition.