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On conservative stable standard of behaviour in situations with perfect foresight

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  • BHATTACHARYA, Anindya
  • ZIAD, Abderrahmane

Abstract

In this note we show that the solution notion called conservative stable standard of behaviour (CSSB), introduced by Greenberg (1990) has very little predictive power in environments with farsighted players although intuitively it is quite nice. First we show that CSSB can make no prediction at all in a large class of environments that are commonly encountered (like normal form games, social networks etc.), i.e., the entire set of social states is stable with respect to this notion. Next we find that even with some feasibility restrictions on the paths, the set of outcomes stable with respect to CSSB is a superset (some times a strict superset) of the largest consistent set (LCS) in a class of environments that includes voting games with a finite number of outcomes, even though for such environments the LCS itself may contain many intuitively unreasonable outcomes.

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Bibliographic Info

Paper provided by Université catholique de Louvain, Center for Operations Research and Econometrics (CORE) in its series CORE Discussion Papers with number 2003049.

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Date of creation: 00 Jul 2003
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Handle: RePEc:cor:louvco:2003049

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  1. Xue, Licun, 1997. "Nonemptiness of the Largest Consistent Set," Journal of Economic Theory, Elsevier, vol. 73(2), pages 453-459, April.
  2. Jackson, Matthew O. & Wolinsky, Asher, 1996. "A Strategic Model of Social and Economic Networks," Journal of Economic Theory, Elsevier, vol. 71(1), pages 44-74, October.
  3. J. J. Herings & A. Mauleon & V. Vannetelbosch, 2000. "Social Rationalizability," THEMA Working Papers 2000-36, THEMA (THéorie Economique, Modélisation et Applications), Université de Cergy-Pontoise.
  4. Licun Xue, 1998. "Coalitional stability under perfect foresight," Economic Theory, Springer, vol. 11(3), pages 603-627.
  5. Greenberg, Joseph & Monderer, Dov & Shitovitz, Benyamin, 1996. "Multistage Situations," Econometrica, Econometric Society, vol. 64(6), pages 1415-37, November.
  6. Bhattacharya, Anindya, 2002. "Coalitional stability with a credibility constraint," Mathematical Social Sciences, Elsevier, vol. 43(1), pages 27-44, January.
  7. Peleg, Bezalel, 2002. "Game-theoretic analysis of voting in committees," Handbook of Social Choice and Welfare, in: K. J. Arrow & A. K. Sen & K. Suzumura (ed.), Handbook of Social Choice and Welfare, edition 1, volume 1, chapter 8, pages 395-423 Elsevier.
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Cited by:
  1. Page Jr. Frank H & Wooders, Myrna & Kamat, Samir, 2003. "Networks and Farsighted Stability," The Warwick Economics Research Paper Series (TWERPS) 689, University of Warwick, Department of Economics.

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