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Preparation and toolkit learning

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  • Voorneveld, Mark

    (Dept. of Economics, Stockholm School of Economics)

Abstract

A 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.

Suggested Citation

  • Voorneveld, Mark, 2002. "Preparation and toolkit learning," SSE/EFI Working Paper Series in Economics and Finance 485, Stockholm School of Economics.
    • Handle: RePEc:hhs:hastef:0485
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    References listed on IDEAS

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    More about this item

    Keywords

    noncooperative games; inertia; status quo bias; adaptive play; procedural rationality;
    All these keywords.

    JEL classification:

    • C72 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Noncooperative Games
    • D83 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Search; Learning; Information and Knowledge; Communication; Belief; Unawareness

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