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Contemporaneous perfect Epsilon-equilibria

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  • Mailath,G.J.
  • Postlewaite,A.
  • Samuelson,L.

    (University of Wisconsin-Madison, Social Systems Research Institute)

Abstract

We examine contemporaneous perfect epsilon-equilibria, in which a player’s actions after every history, evaluated at the point of deviation from the equilibrium, must be within epsilon of a best response. This concept implies, but is stronger than, Radner’s ex ante perfect epsilon-equilibrium. A strategy profile is a contemporaneous perfect epsilon-equilibrium of a game if it is a subgame perfect equilibrium in a perturbed game with nearly the same payoffs, with the converse holding for pure equilibria.

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Bibliographic Info

Paper provided by Wisconsin Madison - Social Systems in its series Working papers with number 5.

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Date of creation: 2002
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Handle: RePEc:att:wimass:20025

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Postal: UNIVERSITY OF WISCONSIN MADISON, SOCIAL SYSTEMS RESEARCH INSTITUTE(S.S.R.I.), MADISON WISCONSIN 53706 U.S.A.

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  1. E. Kohlberg & J.-F. Mertens, 1998. "On the Strategic Stability of Equilibria," Levine's Working Paper Archive 445, David K. Levine.
  2. Watson Joel, 1994. "Cooperation in the Infinitely Repeated Prisoners' Dilemma with Perturbations," Games and Economic Behavior, Elsevier, vol. 7(2), pages 260-285, September.
  3. Borgers, Tilman, 1991. "Upper hemicontinuity of the correspondence of subgame-perfect equilibrium outcomes," Journal of Mathematical Economics, Elsevier, vol. 20(1), pages 89-106.
  4. Fudenberg, Drew & Levine, David, 1986. "Limit Games and Limit Equilibria," Scholarly Articles 3350443, Harvard University Department of Economics.
  5. Drew Fudenberg & David K. Levine, 1983. "Subgame-Perfect Equilibria of Finite- and Infinite-Horizon Games," Levine's Working Paper Archive 219, David K. Levine.
  6. Ariel Rubinstein, 2010. "Perfect Equilibrium in a Bargaining Model," Levine's Working Paper Archive 661465000000000387, David K. Levine.
  7. Drew Fudenberg & Jean Tirole, 1991. "Game Theory," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262061414, January.
  8. Ehud Lehrer & Sylvain Sorin, 1998. "-Consistent equilibrium in repeated games," International Journal of Game Theory, Springer, vol. 27(2), pages 231-244.
  9. Borgers, Tilman, 1989. "Perfect equilibrium histories of finite and infinite horizon games," Journal of Economic Theory, Elsevier, vol. 47(1), pages 218-227, February.
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Cited by:
  1. Karl Schlag & Andriy Zapechelnyuk, 2009. "Decision Making in Uncertain and Changing Environments," Discussion Papers 19, Kyiv School of Economics.
  2. K.Schmedders & F.Kubler, 2004. "Approximate Versus Exact Equilibria," Computing in Economics and Finance 2004 46, Society for Computational Economics.
  3. Jackson, Matthew O. & Rodriguez-Barraquer, Tomas & Tan, Xu, 2012. "Epsilon-equilibria of perturbed games," Games and Economic Behavior, Elsevier, vol. 75(1), pages 198-216.
  4. Barlo, Mehmet & Carmona, Guilherme, 2007. "One - Memory in Repeated Games," FEUNL Working Paper Series wp500, Universidade Nova de Lisboa, Faculdade de Economia.

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