Exact(1)
Hence, even if one restricts attention to equilibria where firm 1 makes zero profits, multiple equilibria arise if one relaxes Assumption 2.
Similar(59)
So it turns out that some very natural applications for mixed-strategy equilibria arise in games, in sport.
The question that interests the student of justice concerns the relative likelihood with which these different equilibria arise.
And the recursive nature of this process means that multiple equilibria are possible.
When multiple equilibria are possible, they must be accounted for in any empirical analysis.
Multiple equilibria are not new.
The difficulty for the players arises because they do not know which of the multiple equilibria of the game to play.
It is its temporary slope reversal which gives rise to the possibility of multiple equilibria, hysteresis, cycles.
Multiple Equilibria.
Positive feedback and multiple equilibria have to be taken seriously.
Moreover, there are multiple equilibria.
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Since I tried Ludwig back in 2017, I have been constantly using it in both editing and translation. Ever since, I suggest it to my translators at ProSciEditing.

Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com