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Saddle functions and robust sets of equilibria

  • Nora, Vladyslav
  • Uno, Hiroshi

We provide a new sufficient condition for the robustness of sets of equilibria to incomplete information in the sense of Kajii and Morris (1997) [11], Morris and Ui (2005) [15]. The condition is formulated for games with a saddle function. A saddle function is a real-valued function on the set of action profiles such that there is a single player for whom minimizing the function implies choosing her best response, and for the other players maximizing the function implies choosing their best responses. In a game with a saddle function the set of correlated equilibria that induce an expectation of the saddle function greater or equal to its maximin value is robust to incomplete information.

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Article provided by Elsevier in its journal Journal of Economic Theory.

Volume (Year): 150 (2014)
Issue (Month): C ()
Pages: 866-877

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Handle: RePEc:eee:jetheo:v:150:y:2014:i:c:p:866-877
Contact details of provider: Web page: http://www.elsevier.com/locate/inca/622869

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  9. Oyama, Daisuke & Tercieux, Olivier, 2009. "Iterated potential and robustness of equilibria," Journal of Economic Theory, Elsevier, vol. 144(4), pages 1726-1769, July.
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