Existence of valuation equilibria when equilibrium strategies cannot differentiate between equal ties
This paper reconsiders the valuation equilibrium concept (Jehiel and Samet, 2007) and proposes an additional regularity condition concerning the playersʼ equilibrium strategies. The condition, which requires equilibrium strategies to induce the same local behaviour at all nodes with “similar” optimal actions, increases both the predictive power and the internal consistency of the concept — especially when used as a tool to study boundedly rational behaviour in games with imperfect information and/or imperfect recall. It is shown not to conflict with existence.
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- Philippe Jehiel & Dov Samet, 2010.
"Learning To Play Games In Extensive Form By Valuation,"
Levine's Working Paper Archive
391749000000000034, David K. Levine.
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- Philippe Jehiel & Dov Samet, 2010. "Learning to play games in extensive form by valuation," Levine's Working Paper Archive 391749000000000040, David K. Levine.
- Philippe Jehiel & Dov Samet, 2001. "Learning to play games in extensive form by valuation," Game Theory and Information 0012001, EconWPA.
- Philippe Jehiel & Dov Samet, 2001. "Learning To Play Games In Extensive Form By Valuation," NajEcon Working Paper Reviews 391749000000000010, www.najecon.org.
- Philippe Jehiel & Dov Samet, 2001. "Learning To Play Games In Extensive Form By Valuation," Levine's Working Paper Archive 391749000000000010, David K. Levine.
- Wichardt, Philipp C., 2008. "Existence of Nash equilibria in finite extensive form games with imperfect recall: A counterexample," Games and Economic Behavior, Elsevier, vol. 63(1), pages 366-369, May.
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Elsevier, vol. 20(1), pages 3-24, July.
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39-96, Tel Aviv.
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- Philippe Jehiel & Dov Samet, 2003.
666156000000000046, UCLA Department of Economics.
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