unique equilibrium

Show Summary Details

Quick Reference

Occurs when an economic model or a game of strategy has a single equilibrium. This is an advantageous situation for an economic analyst since it eliminates debate about which equilibrium will emerge (a tricky question when there are multiple equilibria) and permits the application of comparative statics techniques.

Subjects: Economics.

Reference entries

Users without a subscription are not able to see the full content. Please, subscribe or login to access all content.