Perfect Bayesian equilibrium. Part II: epistemic foundations
AbstractIn a companion paper we introduced a general notion of perfect Bayesian equilibrium which can be applied to arbitrary extensive-form games. The essential ingredient of the proposed definition is the qualitative notion of AGM-consistency. In this paper we provide an epistemic foundation for AGM-consistency 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 111.
Date of creation: 19 Jan 2011
Date of revision:
belief revision; common prior; plausibility order; perfect Bayesian equilibrium; consistency; sequential equilibrium.;
Find related papers by JEL classification:
- C7 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory
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