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Strategic and extensive games

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  • Martin J. Osborne

Abstract

The basic theory of strategic and extensive games is described. Strategic game, Bayesian games, extensive games with perfect information, and extensive games with imperfect information are defined and explained. Among the solution concepts discussed are Nash equilibrium, correlated equilibrium, rationalizability, subgame perfect equilibrium, and weak sequential equilibrium.

Suggested Citation

  • Martin J. Osborne, 2006. "Strategic and extensive games," Working Papers tecipa-231, University of Toronto, Department of Economics.
    • Handle: RePEc:tor:tecipa:tecipa-231
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    References listed on IDEAS

    as
    1. Bernheim, B Douglas, 1984. "Rationalizable Strategic Behavior," Econometrica, Econometric Society, vol. 52(4), pages 1007-1028, July.
    2. Aumann, Robert J., 1974. "Subjectivity and correlation in randomized strategies," Journal of Mathematical Economics, Elsevier, vol. 1(1), pages 67-96, March.
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    Cited by:

    1. Hans-Theo Normann & Martin Sternberg, 2021. "Human-Algorithm Interaction: Algorithmic Pricing in Hybrid Laboratory Markets," Discussion Paper Series of the Max Planck Institute for Research on Collective Goods 2021_11, Max Planck Institute for Research on Collective Goods, revised 13 Apr 2022.

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    More about this item

    Keywords

    Strategic games; Bayesian games; extensive games; Nash equilibrium; correlated equilibrium; subgame perfect equilibrium; sequential equilibrium;
    All these keywords.

    JEL classification:

    • C7 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory

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