Preparation and toolkit learning
AbstractA product set of pure strategies is a prep set ("prep" is short for "preparation") if it contains at least one best reply to any consistent belief that a player may have about the strategic behavior of his opponents. Minimal prep sets are shown to exists in a class of strategic games satisfying minor topological conditions. The concept of minimal prep sets is compared with (pure and mixed) Nash equilibria, minimal curb sets, and rationalizability. Additional dynamic motivation for the concept is provided by a model of adaptive play that is shown to settle down in minimal prep sets.
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Bibliographic InfoPaper provided by Stockholm School of Economics in its series Working Paper Series in Economics and Finance with number 485.
Length: 26 pages
Date of creation: 04 Jan 2002
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noncooperative games; inertia; status quo bias; adaptive play; procedural rationality;
Find related papers by JEL classification:
- C72 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Noncooperative Games
- D83 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Search, Learning, and Information
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