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P-Stable Equilibrium : Definition and Some Properties

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  • Desgranges, Gabriel

    (Université de Cergy-Pontoise)

  • Ghosal, Sayantan

    (University of Warwick)

Abstract

We define a continuous index of strategic stability,p.stability, which requires equilibrium to be the unique outcome compatible with common knowledge of rationality and common knowledge of p.beliefs (beliefs that put probability at least p on the equilibrium profile). We show that every equilibrium (within a large class) is p-stable for some p

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Bibliographic Info

Paper provided by University of Warwick, Department of Economics in its series The Warwick Economics Research Paper Series (TWERPS) with number 952.

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Date of creation: 2010
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Handle: RePEc:wrk:warwec:952

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Keywords: common knowledge ; strategic uncertainty ; rationalizability. JEL Classification: C70 ; D84;

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Cited by:
  1. Gabriel Desgranges & Stéphane Gauthier, 2014. "Rationalizability and Efficiency in an Asymmetric Cournot Oligopoly," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) halshs-00975002, HAL.

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