Discussion paper

DP5583 Strategic Complementarities in Multi-Stage Games

We provide sufficient conditions in finite-horizon multi-stage games for the value function of each player, associated to extremal Markov perfect equilibria, to display strategic complementarities and for the contemporaneous equilibrium to be increasing in the state variables.

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Citation

Vives, X (2006), ‘DP5583 Strategic Complementarities in Multi-Stage Games‘, CEPR Discussion Paper No. 5583. CEPR Press, Paris & London. https://cepr.org/publications/dp5583