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Staff Publications

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    'Staff publications' is the digital repository of Wageningen University & Research

    'Staff publications' contains references to publications authored by Wageningen University staff from 1976 onward.

    Publications authored by the staff of the Research Institutes are available from 1995 onwards.

    Full text documents are added when available. The database is updated daily and currently holds about 240,000 items, of which 72,000 in open access.

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Record number 538369
Title Cournot tatonnement and Nash equilibrium in binary status games
Author(s) Kukushkin, Nikolai S.; Mouche, Pierre von
Source Economics Bulletin 38 (2018)2. - ISSN 1545-2921 - p. 1038 - 1044.
Department(s) Economics of Consumers and Households Group
WASS
Publication type Refereed Article in a scientific journal
Publication year 2018
Abstract

We study a rather simplified game model of competition for status. Each player chooses a scalar variable (say, the level of conspicuous consumption), and then those who chose the highest level obtain the "high" status, while everybody else remains with the "low" status. Each player strictly prefers the high status, but they also have intrinsic preferences over their choices. The set of all feasible choices may be continuous or discrete, whereas the strategy sets of different players can only differ in their upper and lower bounds. The resulting strategic game with discontinuous utilities does not satisfy the assumptions of any general theorem known as of today. Nonetheless, the existence of a (pure strategy) Nash equilibrium, as well as the "finite best response improvement property," are established.

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