Paulo Klinger Monteiro

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We provide a pure Nash equilibrium existence theorem for games with discontinuous payoffs whose hypotheses are in a number of ways weaker than those of the theorem of Reny (1999). In comparison with Reny’s argument, our proof is brief. Our result subsumes a prior existence result of Nishimura and Friedman (1981) that is not covered by his theorem. We use(More)
We introduce a condition, uniform payoff security, for games with compact Hausdorff strategy spaces and payoffs bounded and measurable in players’ strategies. We show that if any such compact game G is uniformly payoff secure, then its mixed extension G is payoff secure. We also establish that if a uniformly payoff secure compact game G has a mixed(More)
Suppose a seller wants to sell k similar or identical objects and there are n > k potential buyers. Suppose that buyers want only one object. (This is a reasonable assumption in the sale of condominiums or in the sale of government-owned residential units to low-income families). In this case, we suggest the use of a simultaneous auction that would work as(More)
We demonstrate the existence of an optimal, individually rational, and incentive compatible selling mechanism for a multiproduct monopolist facing a market populated by consumers with budget constraints. Our main contribution is to show via examples and our existence result that, in general, when facing consumers with budget constraints the monopolist is(More)
We consider the problem of a seller who faces a privately informed buyer and only knows one (in the more general case, arbitrary) moment of the distribution from which valuations are drawn. In face of this uncertainty, the seller maximizes his worst-case expected profits. Insurance against uncertainty takes a simple form. Conditional on sales, the seller’s(More)
In this paper we consider sequential auctions where an individual’s value for a bundle of objects is either greater than the sum of the values for the objects separately (positive synergy) or less than the sum (negative synergy). We show that the existence of positive synergies implies declining expected prices. When synergies are negative, expected prices(More)
We analyze simultaneous discrete public good games with incomplete information and continuous contributions. To use the terminology of Admati and Perry (1991), we consider contribution and subscription games. In the former, contributions are not refunded if the project is not completed, while in the latter they are. We provide necessary conditions that(More)