On Finding Curb Sets in Extensive Games
AbstractWe characterize strategy sets that are closed under rational behavior (curb) in extensive games of perfect information and finite horizon. It is shown that any such game possesses only one minimal curb set, which necessarily includes all its subgame perfect Nash equilibria. Applications of this result are twofold. First, it lessens computational burden while computing minimal curb sets. Second, it implies that the profile of subgame perfect equilibrium strategies is always stochastically stable in a certain class of games.
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Bibliographic InfoPaper provided by Tinbergen Institute in its series Tinbergen Institute Discussion Papers with number 03-098/1.
Date of creation: 08 Dec 2003
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rationalizability; stochastic stability;
Find related papers by JEL classification:
- C72 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Noncooperative Games
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