The Algebraic Geometry of Perfect and Sequential Equilibrium
AbstractTwo of the most important refinements of the Nash equilibrium concept for extensive form games are (trembling hand) perfect equilibrium and sequential equilibrium. It is shown here that, for almost all assignments of payoffs to outcomes, the sets of sequential and perfect equilibrium strategy profiles are identical. This result is obtained by exploiting the semialgebraic nature of equilibrium correspondences, following from a deep theorem of mathematical logic. Copyright 1994 by The Econometric Society.
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Bibliographic InfoArticle provided by Econometric Society in its journal Econometrica.
Volume (Year): 62 (1994)
Issue (Month): 4 (July)
Other versions of this item:
- Lawrence E. Blume & William R. Zame, 1993. "The Algebraic Geometry of Perfect and Sequential Equilibrium," Game Theory and Information 9309001, EconWPA.
- C7 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory
- D8 - Microeconomics - - Information, Knowledge, and Uncertainty
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
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- Blume, Lawrence & Brandenburger, Adam & Dekel, Eddie, 1991. "Lexicographic Probabilities and Choice under Uncertainty," Econometrica, Econometric Society, vol. 59(1), pages 61-79, January.
- Roger B. Myerson, 1986. "Axiomatic Foundations of Bayesian Decision Theory," Discussion Papers 671, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
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