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  • 标题:Nash Equilibrium Existence and Uniqueness in A Club Model
  • 本地全文:下载
  • 作者:Clive Fraser
  • 期刊名称:Discussion Papers / University of Leicester, Department of Economics
  • 出版年度:2012
  • 卷号:2012
  • 出版社:Leicester
  • 摘要:I model a single-club economy with heterogeneous consumers as an aggregative game. I give a sufficient condition, normality of demand for the club good in full income, for the existence and uniqueness of a Nash equilbrium by the Cornes-Hartley (2007) method. Then, confining attention to club quality functions that are homogeneous in the investment in the club facility and the aggregate usage of the club, I examine when the sufficient condition is satisfied. I show that, under common assumptions on the utility function, this occurs for all positive degrees of homogeneity.
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