When players may have lexicographic utilities, there are: (i) extensive games having a non-empty set of equilibria but empty sets of sequentially rational, sequential and perfect equilibria; (ii) normal form games having a non-empty set of equilibria but an empty set of proper equilibria and no stable set of equilibria; and (iii) two extensive games having the same normal form representation and disjoint sets of sequential equilibria.
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Article provided by Economics Bulletin in its journal Economics Bulletin.
Find related papers by JEL classification: C7 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory
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