A Result on Convergence of Sequences of Iterations with Applications to Best-Response Dynamics

The result that says the sequence of iterations [Formula: see text] converges if [Formula: see text] is an increasing function has numerous applications in elementary economic analysis. I generalize this simple result to some mappings [Formula: see text]. The applications of the new result include the convergence of the best-response dynamics in the general version of the Crawford and Sobel model and in some versions of the Hotelling and Tiebout models.