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

A Refinement of Perfect Equilibria Based On Substitute Sequences

Contents:

Author Info

  • C. D. Aliprantis
  • I. Topolyan
Registered author(s):

    Abstract

    We propose an equilibrium refinement of strict perfect equilibrium for the finite normal form games, which is not known in the literature. Okada came up with the idea of strict perfect equilibrium by strengthening the main definition of a perfect equilibrium, due to Selten [14]. We consider the alternative (and equivalent) definition of perfect equilibrium, based on the substitute sequences, as appeared in Selten [14]. We show that by strengthening and modifiyng this definition slightly, one can obtain a refinement stronger than strict perfectness. We call the new refinement strict substitute perfect equilibrium. The main advantage of this solution concept is that it reflects the local dominance of an equilibrium point. An example is provided to show that a strict perfect equilibrium may fail to be strict substitute perfect.

    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.krannert.purdue.edu/programs/phd/Working-paper-series/Year-2009/1225.pdf
    Our checks indicate that this address may not be valid because: 404 Not Found. If this is indeed the case, please notify (Krannert PHD)
    Download Restriction: no

    Bibliographic Info

    Paper provided by Purdue University, Department of Economics in its series Purdue University Economics Working Papers with number 1225.

    as in new window
    Length: 16 pages
    Date of creation: Aug 2009
    Date of revision:
    Handle: RePEc:pur:prukra:1225

    Contact details of provider:
    Postal: Krannert Building, West Lafayette, IN 47907
    Web page: http://www.krannert.purdue.edu/programs/phd
    More information through EDIRC

    Related research

    Keywords: Perfect equilibrium; strictly perfect equilibrium; substitute sequence; substitute perfect equilibrium; unit simplex;

    Find related papers by JEL classification:

    This paper has been announced in the following NEP Reports:

    References

    No references listed on IDEAS
    You can help add them by filling out this form.

    Citations

    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:pur:prukra:1225. 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: (Krannert PHD).

    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.