AGM-consistency and perfect Bayesian equilibrium. Part I: definition and properties
AbstractWe provide a general notion of perfect Bayesian equilibrium which can be applied to arbitrary extensive-form games and is intermediate between subgame-perfect equilibrium and sequential equilibrium. The essential ingredient of the proposed definition is the qualitative notion of AGM-consistency, which has an epistemic justification based on the AGM theory of belief revision.
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Bibliographic InfoPaper provided by University of California, Davis, Department of Economics in its series Working Papers with number 1017.
Date of creation: 30 Oct 2010
Date of revision:
belief revision; plausibility order; consistency; subgame-perfect equilibrium; sequential equilibrium; Bayesian updating.;
Other versions of this item:
- Giacomo Bonanno, 2013. "AGM-consistency and perfect Bayesian equilibrium. Part I: definition and properties," International Journal of Game Theory, Springer, vol. 42(3), pages 567-592, August.
- C7 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory
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