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The consistency principle for games in strategic form

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  • Peleg, B.
  • Tijs, S.H.

    (Tilburg University, Center for Economic Research)

Abstract

We start with giving an axiomatic characterization of the Nash equilibrium (NE) correspondence in terms of consistency, converse consistency and one-person rationality. Then axiomatizations are given of the strong NE correspondence, the coalition-proof NE correspondence and the semi-strong NE. In all these characterizations consistency and suitable variants of converse consistency play a role. Finally, the dominant NE correspondence is characterized. We also indicate how to generalize our results to Bayesian and extensive games.

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Bibliographic Info

Paper provided by Tilburg University, Center for Economic Research in its series Discussion Paper with number 1993-6.

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Date of creation: 1993
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Handle: RePEc:dgr:kubcen:19936

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Web page: http://center.uvt.nl

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Keywords: Game Theory;

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References

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  1. repec:cup:cbooks:9780521343831 is not listed on IDEAS
  2. Peleg, Bezalel, 1985. "An axiomatization of the core of cooperative games without side payments," Journal of Mathematical Economics, Elsevier, vol. 14(2), pages 203-214, April.
  3. Lensberg, Terje, 1988. "Stability and the Nash solution," Journal of Economic Theory, Elsevier, vol. 45(2), pages 330-341, August.
  4. Moulin, Hervé & Peleg, B., 1982. "Cores of effectivity functions and implementation theory," Economics Papers from University Paris Dauphine 123456789/13220, Paris Dauphine University.
  5. Neyman, Abraham, 1989. "Uniqueness of the Shapley value," Games and Economic Behavior, Elsevier, vol. 1(1), pages 116-118, March.
  6. E. Kohlberg & J.-F. Mertens, 1998. "On the Strategic Stability of Equilibria," Levine's Working Paper Archive 445, David K. Levine.
  7. Hart, Sergiu & Mas-Colell, Andreu, 1989. "Potential, Value, and Consistency," Econometrica, Econometric Society, vol. 57(3), pages 589-614, May.
  8. Bernheim, B. Douglas & Peleg, Bezalel & Whinston, Michael D., 1987. "Coalition-Proof Nash Equilibria I. Concepts," Journal of Economic Theory, Elsevier, vol. 42(1), pages 1-12, June.
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