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Outcome-equivalence of self-confirming equilibrium and Nash equilibrium

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  • Shimoji, Makoto

Abstract

We introduce a condition, Nash-equivalent self-confirming equilibrium. If beliefs are assumed to be independent and unitary, Nash-equivalent self-confirming equilibrium and Nash equilibrium are outcome-equivalent. We show that the set of Nash-equivalent self-confirming equilibria and the set of self-confirming equilibria which are outcome-equivalent to Nash equilibria coincide. Our condition identifies the collection of information sets and requires the existence of beliefs shared by (certain sets of) players regarding these information sets. If the information sets are off the equilibrium path, the beliefs regarding them do not have to be correct. Our condition is weaker than that of strongly consistent self-confirming equilibrium by Kamada (2010).

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Bibliographic Info

Article provided by Elsevier in its journal Games and Economic Behavior.

Volume (Year): 75 (2012)
Issue (Month): 1 ()
Pages: 441-447

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Handle: RePEc:eee:gamebe:v:75:y:2012:i:1:p:441-447

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Web page: http://www.elsevier.com/locate/inca/622836

Related research

Keywords: Nash equilibrium; Self-confirming equilibrium; Extensive-form games;

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  1. E. Kalai & E. Lehrer, 2010. "Rational Learning Leads to Nash Equilibrium," Levine's Working Paper Archive 529, David K. Levine.
  2. Rubinstein Ariel & Wolinsky Asher, 1994. "Rationalizable Conjectural Equilibrium: Between Nash and Rationalizability," Games and Economic Behavior, Elsevier, Elsevier, vol. 6(2), pages 299-311, March.
  3. Ehud Kalai & Ehud Lehrer, 1991. "Subjective Equilibrium in Repeated Games," Discussion Papers, Northwestern University, Center for Mathematical Studies in Economics and Management Science 981, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
  4. Fudenberg, D. & Levine, D.K., 1991. "Self-Confirming Equilibrium ," Working papers 581, Massachusetts Institute of Technology (MIT), Department of Economics.
  5. Yuichiro Kamada, 2010. "Strongly Consistent Self-Confirming Equilibrium," Econometrica, Econometric Society, Econometric Society, vol. 78(2), pages 823-832, 03.
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