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Published in:
2007 | OriginalPaper | Chapter
Games with Continuous Strategy Sets
Published in: Game Theory
Publisher: Springer London
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For ease of exposition, most of this book is devoted to models in which players have discrete and finite strategy sets. However, several classic games describe situations in which the players do not choose actions from a discrete set; instead their pure strategy sets are subsets of the real line. In this chapter, we give a few examples to show how the concepts of game theory are easily extended to such cases. Economic models of a duopoly provide examples with pure-strategy Nash equilibria, and the so-called War of Attrition has an equilibrium involving mixed strategies.