Perfect and limit admissible perfect equilibria in discontinuous games
We compare the properties of several notions of trembling-hand perfection within classes of compact, metric, and possibly discontinuous games, and show that in the presence of payoff discontinuities, standard notions of trembling-hand perfection fail a weakening of admissibility termed limit admissibility. We also provide conditions ensuring the existence of a limit admissible perfect equilibrium.
References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Salonen, Hannu, 1996. "On the Existence of Undominated Nash Equilibria in Normal Form Games," Games and Economic Behavior, Elsevier, vol. 14(2), pages 208-219, June.
- Carbonell-Nicolau, Oriol, 2011. "On strategic stability in discontinuous games," Economics Letters, Elsevier, vol. 113(2), pages 120-123.
- Simon, Leo K & Stinchcombe, Maxwell B, 1995. "Equilibrium Refinement for Infinite Normal-Form Games," Econometrica, Econometric Society, vol. 63(6), pages 1421-43, November.
- Oriol Carbonell-Nicolau & Richard McLean, 2011.
"Approximation Results for Discontinuous Games with an Application to Equilibrium Refinement,"
Departmental Working Papers
201128, Rutgers University, Department of Economics.
- Oriol Carbonell-Nicolau & Richard McLean, 2013. "Approximation results for discontinuous games with an application to equilibrium refinement," Economic Theory, Springer, vol. 54(1), pages 1-26, September.
- Oriol Carbonell-Nicolau & Richard McLean, 2012. "Approximation Results for Discontinuous Games with an Application to Equilibrium Refinement," Departmental Working Papers 201206, Rutgers University, Department of Economics.
- Monteiro, Paulo Klinger & Page Jr, Frank H., 2007. "Uniform payoff security and Nash equilibrium in compact games," Journal of Economic Theory, Elsevier, vol. 134(1), pages 566-575, May.
- Philip J. Reny, 1999. "On the Existence of Pure and Mixed Strategy Nash Equilibria in Discontinuous Games," Econometrica, Econometric Society, vol. 67(5), pages 1029-1056, September.
- Oriol Carbonell-Nicolau, 2011. "The Existence of Perfect Equilibrium in Discontinuous Games," Games, MDPI, Open Access Journal, vol. 2(3), pages 235-256, July.
- KOHLBERG, Elon & MERTENS, Jean-FranÃ§ois, .
"On the strategic stability of equilibria,"
CORE Discussion Papers RP
716, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
When requesting a correction, please mention this item's handle: RePEc:eee:mateco:v:47:y:2011:i:4:p:531-540. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Zhang, Lei)
If references are entirely missing, you can add them using this form.