The possibility of impossible stairways: Tail events and countable player sets, Games and Economic Behavior Bookmark and Share

Excerpt: In classical game theory, players have finitely many actions and evaluate outcomes of mixed strategies using a von Neumann-Morgenstern utility function. Allowing a larger, but countable, player set introduces phenomena that are impossible in finite games: [...] Moreover, a class of games without (pure or mixed) Nash equilibria is constructed.