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Bagwell's paradox, forward induction and outside option games

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  • José Luis Ferreira

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Abstract

In Stackelberg-like games there is an advantage of moving first. However, Bagwell (1995) shows that this result may not hold if the second player can make only imperfect observations. We explore whether this paradox also holds when the advantage comes from forward induction arguments in the class of outside option games.

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File URL: http://e-archivo.uc3m.es/bitstream/10016/9793/1/we1035.pdf
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Bibliographic Info

Paper provided by Universidad Carlos III, Departamento de Economía in its series Economics Working Papers with number we1035.

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Date of creation: Dec 2010
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Handle: RePEc:cte:werepe:we1035

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Keywords: Bagwell's paradox; Commitment; Observability; Noise; Outside option games; Forward induction;

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  1. van Damme, Eric, 1989. "Stable equilibria and forward induction," Journal of Economic Theory, Elsevier, vol. 48(2), pages 476-496, August.
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