Strategic complements, substitutes, and Ambiguity: the implications for public goods.
The paper is mainly concerned with comparative statics in symmetric \(n\)-players games having aggregate externalities. In this context, the authors examine how the ambiguity interacts with the properties of strategic substitutes and complements in games. Thus, one shows that in the games with strategic substitutes and positive externalities, increasing ambiguity has the effect of increasing the strategy played in symmetric equilibrium and in the class of games with at least three Nash equilibria the strategic complementarities are sufficiently strong to generate multiple equilibria. Some economic applications, the immediate implications for public goods further applications and significant conclusions are also considered in this research paper under appropriate references.
scientific article; zbMATH DE number 1891526
scientific article