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Erscheinungsjahr: 
2006
Quellenangabe: 
[Journal:] Theoretical Economics [ISSN:] 1555-7561 [Volume:] 1 [Issue:] 2 [Publisher:] The Econometric Society [Place:] New York, NY [Year:] 2006 [Pages:] 167-206
Verlag: 
The Econometric Society, New York, NY
Zusammenfassung: 
A refinement of the set of Nash equilibria that satisfies two assumptions is shown to select a subset that is stable in the sense defined by Kohlberg and Mertens. One assumption requires that a selected set is invariant to adjoining redundant strategies and the other is a strong version of backward induction. Backward induction is interpreted as the requirement that each player's strategy is sequentially rational and conditionally admissible at every information set in an extensive-form game with perfect recall, implemented here by requiring that the equilibrium is quasi-perfect. The strong version requires 'truly' quasi-perfection in that each strategy perturbation refines the selection to a quasi-perfect equilibrium in the set. An exact characterization of stable sets is provided for two-player games.
Schlagwörter: 
Game theory
equilibrium selection
stability
JEL: 
C72
Creative-Commons-Lizenz: 
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