Advanced Search
MyIDEAS: Login to save this paper or follow this series

Generalized Potentials and Robust Sets of Equilibria

Contents:

Author Info

  • smorris
  • Takashi Ui

Abstract

This paper introduces generalized potential functions of complete information games and studies the robustness of sets of equilibria to incomplete information. A set of equilibria of a complete information game is robust if every incomplete information game where payoffs are almost always given by the complete information game has an equilibrium which generates behavior close to some equilibrium in the set. First, this paper provides sufficient conditions for the robustness of sets of equilibria in terms of argmax sets of generalized potential functions. Next, it shows that the sufficient conditions generalize the existing sufficient conditions for the robustness of equilibria

Download Info

If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
File URL: http://www.econ.yale.edu/%7Esm326/genpot.pdf
Our checks indicate that this address may not be valid because: 404 Not Found. If this is indeed the case, please notify (Christopher F. Baum)
File Function: main text
Download Restriction: no

Bibliographic Info

Paper provided by Econometric Society in its series Econometric Society 2004 North American Winter Meetings with number 45.

as in new window
Length:
Date of creation: 11 Aug 2004
Date of revision:
Handle: RePEc:ecm:nawm04:45

Contact details of provider:
Phone: 1 212 998 3820
Fax: 1 212 995 4487
Email:
Web page: http://www.econometricsociety.org/pastmeetings.asp
More information through EDIRC

Related research

Keywords: potential functions; equilibrium selection; robustness;

Other versions of this item:

Find related papers by JEL classification:

This paper has been announced in the following NEP Reports:

References

References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
as in new window
  1. Atsushi Kajii & Stephen Morris, . ""The Robustness of Equilibria to Incomplete Information*''," CARESS Working Papres, University of Pennsylvania Center for Analytic Research and Economics in the Social Sciences 95-18, University of Pennsylvania Center for Analytic Research and Economics in the Social Sciences.
  2. Blume Lawrence E., 1993. "The Statistical Mechanics of Strategic Interaction," Games and Economic Behavior, Elsevier, Elsevier, vol. 5(3), pages 387-424, July.
  3. Carlsson, Hans & van Damme, Eric, 1993. "Global Games and Equilibrium Selection," Econometrica, Econometric Society, Econometric Society, vol. 61(5), pages 989-1018, September.
  4. David M. Frankel & Stephen Morris & Ady Pauzner, 2000. "Equilibrium Selection in Global Games with Strategic Complementarities," Econometric Society World Congress 2000 Contributed Papers, Econometric Society 1490, Econometric Society.
  5. Morris, Stephen Morris & Takashi Ui, 2002. "Best Response Equivalence," Cowles Foundation Discussion Papers, Cowles Foundation for Research in Economics, Yale University 1377, Cowles Foundation for Research in Economics, Yale University.
  6. Maruta, Toshimasa, 1997. "On the Relationship between Risk-Dominance and Stochastic Stability," Games and Economic Behavior, Elsevier, Elsevier, vol. 19(2), pages 221-234, May.
  7. Akihiko Matsui & Kiminori Matsuyama, 1991. "An Approach to Equilibrium Selection," Discussion Papers, Northwestern University, Center for Mathematical Studies in Economics and Management Science 1065, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
  8. Larry E. Blume, 1996. "Population Games," Working Papers, Santa Fe Institute 96-04-022, Santa Fe Institute.
  9. Monderer, Dov & Shapley, Lloyd S., 1996. "Potential Games," Games and Economic Behavior, Elsevier, Elsevier, vol. 14(1), pages 124-143, May.
  10. Ui, Takashi, 2001. "Robust Equilibria of Potential Games," Econometrica, Econometric Society, Econometric Society, vol. 69(5), pages 1373-80, September.
  11. Atsushi Kajii & Stephen Morris, 1997. "Refinements and Social Order Beliefs: A Unified Survey," Discussion Papers, Northwestern University, Center for Mathematical Studies in Economics and Management Science 1197, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
  12. Hofbauer, Josef & Sorger, Gerhard, 1999. "Perfect Foresight and Equilibrium Selection in Symmetric Potential Games," Journal of Economic Theory, Elsevier, Elsevier, vol. 85(1), pages 1-23, March.
  13. E. Kohlberg & J.-F. Mertens, 1998. "On the Strategic Stability of Equilibria," Levine's Working Paper Archive 445, David K. Levine.
  14. Voorneveld, Mark, 2000. "Best-response potential games," Economics Letters, Elsevier, Elsevier, vol. 66(3), pages 289-295, March.
  15. Ui, Takashi, 2000. "A Shapley Value Representation of Potential Games," Games and Economic Behavior, Elsevier, Elsevier, vol. 31(1), pages 121-135, April.
  16. Oyama, Daisuke, 2002. "p-Dominance and Equilibrium Selection under Perfect Foresight Dynamics," Journal of Economic Theory, Elsevier, Elsevier, vol. 107(2), pages 288-310, December.
  17. Ellison, Glenn, 2000. "Basins of Attraction, Long-Run Stochastic Stability, and the Speed of Step-by-Step Evolution," Review of Economic Studies, Wiley Blackwell, Wiley Blackwell, vol. 67(1), pages 17-45, January.
  18. Kukushkin, Nikolai S., 1999. "Potential games: a purely ordinal approach," Economics Letters, Elsevier, Elsevier, vol. 64(3), pages 279-283, September.
  19. Hart, Sergiu & Mas-Colell, Andreu, 1989. "Potential, Value, and Consistency," Econometrica, Econometric Society, Econometric Society, vol. 57(3), pages 589-614, May.
Full references (including those not matched with items on IDEAS)

Citations

Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
as in new window

Cited by:
This item has more than 25 citations. To prevent cluttering this page, these citations are listed on a separate page.

Lists

This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

Statistics

Access and download statistics

Corrections

When requesting a correction, please mention this item's handle: RePEc:ecm:nawm04:45. See general information about how to correct material in RePEc.

For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Christopher F. Baum).

If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

If references are entirely missing, you can add them using this form.

If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

Please note that corrections may take a couple of weeks to filter through the various RePEc services.