On the Robustness of Equilibrium Refinements
AbstractThe philosophy of equilibrium refinements is that the analyst, if he knows things about the structure of the game, can reject some Nash equilibria as unreasonable. The word Ã¢â¬ÅknowÃ¢â¬ in the preceding sentence deserves special emphasis. If in a fixed game the analyst can reject a particular equilibrium outcome, but he cannot do so for games arbitrarily Ã¢â¬Åclose by,Ã¢â¬ then he may have second thoughts about rejecting the outcome. We consider several notions of distance between games, and we characterize their implications for the robustness of equilibrium refinements.
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Bibliographic InfoPaper provided by David K. Levine in its series Levine's Working Paper Archive with number 227.
Date of creation: 01 Jan 1988
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Other versions of this item:
- Levine, David & Kreps, David & Fudenberg, Drew, 1988. "On the Robustness of Equilibrium Refinements," Scholarly Articles 3350444, Harvard University Department of Economics.
- Drew Fudenberg & David M. Kreps & David K. Levine, 1986. "On the Robustness of Equilibrium Refinements," UCLA Economics Working Papers 398, UCLA Department of Economics.
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