The Econometric SocietyEdited by: Guido W. Imbens • Print ISSN: 0012-9682 • Online ISSN: 1468-0262
Econometrica: Jul, 1965, Volume 33, Issue 3
https://doi.org/0012-9682(196507)33:3<520:EAUOEP>2.0.CO;2-2
p. 520-534
J. B. Rosen
A constrained n-person game is considered in which the constraints for each player, as well as his payoff function, may depend on the strategy of every player. The existence of an equilibrium point for such a game is shown. By requiring appropriate concavity in the payoff functions a concave game is defined. It is proved that there is a unique equilibrium point for every strictly concave game. A dynamic model for nonequilibrium situations is proposed. This model consists of a system of differential equations which specify the rate of change of each player's strategy. It is shown that for a strictly concave game the system is globally asymptotically stable with respect to the unique equilibrium point of the game. Finally, it is shown how a gradient method suitable for a concave mathematical programming problem can be used to find the equilibrium point for a concave game.
March 5, 2024
The terms of the Editors of the Econometric Society's three journals end June 30, 2025. We are pleased to announce the incoming Editors and to thank the outgoing Editors for their excellent and continuing service.
Econometrica: Since 2019, Guido Imbens has served as the 14th Editor of Econometrica. On July 1, 2025, Marina Halac will become the Editor.
Quantitative Economics: Stéphane Bonhomme has been the Editor of Quantitative Economics since 2021. His successor will be Bernard Salanié.
Theoretical Economics: The Editor of Theoretical Economics since 2021 has been Simon Board. Taking over for him in July 2025 will be Federico Echenique.
Guido, Stéphane, and Simon have been outstanding Editors. We are grateful to them for the work they have done and will continue to do, and we look forward to further congratulating them next year. We believe Marina, Bernard, and Federico will be outstanding successors and we thank them in advance for their service.
Finally, we are grateful to Larry Samuelson for chairing all three search committees, and we thank the search committee members for their hard and fruitful work:
Econometrica: Christian Dustmann, Lars Hansen, Alessandro Lizzeri, George Mailath, Ariel Pakes, Helene Rey, and Elie Tamer.
QE: Kate Ho, Michael Keane, Felix Kubler, Whitney Newey, and Frank Schorfheide.
TE: Jeff Ely, Johannes Horner, Gilat Levy, Meg Meyer, and Ran Spiegler.
