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Negative results in the theory of games with lexicographic utilities

Author

Listed:
  • Antonio Quesada

    (Universitat de València (Spain))

Abstract

When players may have lexicographic utilities, there are: (i) extensive games having a non-empty set of equilibria but empty sets of sequentially rational, sequential and perfect equilibria (ii) normal form games having a non-empty set of equilibria but an empty set of proper equilibria and no stable set of equilibria and (iii) two extensive games having the same normal form representation and disjoint sets of sequential equilibria.

Suggested Citation

  • Antonio Quesada, 2003. "Negative results in the theory of games with lexicographic utilities," Economics Bulletin, AccessEcon, vol. 3(20), pages 1-7.
    • Handle: RePEc:ebl:ecbull:eb-03c70011
    as

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    References listed on IDEAS

    as
    1. Hammond, Peter J., 1999. "Non-Archimedean subjective probabilities in decision theory and games," Mathematical Social Sciences, Elsevier, vol. 38(2), pages 139-156, September.
    2. Rajan, Uday, 1998. "Trembles in the Bayesian Foundations of Solution Concepts of Games," Journal of Economic Theory, Elsevier, vol. 82(1), pages 248-266, September.
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    Cited by:

    1. Hara, Kazuhiro, 2022. "Coalitional strategic games," Journal of Economic Theory, Elsevier, vol. 204(C).

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    More about this item

    Keywords

    lexicographic expected utility;

    JEL classification:

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

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