Invariance properties of persistent equilibria and related solution concepts
Kohlberg and Mertens argued that a solution concept to a game should be invariant under the addition of deletion of an equivalent strategy and not require the use of weakly dominated strategies. In this paper we study which of these requirements are satisfied by Kalai and Samet's concepts of persistent equilibria and persistent retracts. While none of these concepts has all the invariance properties, we show that a slight rephrasing of the notion of a persisent retract leads to a notion satisfying them all.
(This abstract was borrowed from another version of this item.)
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.:
- Kohlberg, Elon & Mertens, Jean-Francois, 1986.
"On the Strategic Stability of Equilibria,"
Econometric Society, vol. 54(5), pages 1003-37, September.
- Aumann, Robert & Brandenburger, Adam, 1995. "Epistemic Conditions for Nash Equilibrium," Econometrica, Econometric Society, vol. 63(5), pages 1161-80, September.
- Basu, K. & Weibull, J., 1990.
"Strategy Subsets Closed Under Rational Behavior,"
62, Princeton, Woodrow Wilson School - Discussion Paper.
- C. Sanchirico, 2010.
"A Probabilistic Model of Learning in Games,"
Levine's Working Paper Archive
484, David K. Levine.
- Vermeulen, A. J. & Jansen, M. J. M., 1997. "On the invariance of solutions of finite games," Mathematical Social Sciences, Elsevier, vol. 33(3), pages 251-267, June.
- Ritzberger, Klaus & Weibull, Jörgen W., 1993.
"Evolutionary Selection in Normal Form Games,"
Working Paper Series
383, Research Institute of Industrial Economics.
- Douglas Staiger & James H. Stock, 1994.
"Instrumental Variables Regression with Weak Instruments,"
NBER Technical Working Papers
0151, National Bureau of Economic Research, Inc.
- Douglas Staiger & James H. Stock, 1997. "Instrumental Variables Regression with Weak Instruments," Econometrica, Econometric Society, vol. 65(3), pages 557-586, May.
- Sims, Christopher A, 1980. "Macroeconomics and Reality," Econometrica, Econometric Society, vol. 48(1), pages 1-48, January.
- Jean-François Mertens, 2004.
"Ordinality in non cooperative games,"
International Journal of Game Theory,
Springer, vol. 32(3), pages 387-430, 06.
- Vermeulen, A. J. & Jansen, M. J. M., 2000. "Ordinality of solutions of noncooperative games," Journal of Mathematical Economics, Elsevier, vol. 33(1), pages 13-34, February.
- Hurkens Sjaak, 1995. "Learning by Forgetful Players," Games and Economic Behavior, Elsevier, vol. 11(2), pages 304-329, November.
- MERTENS, Jean-FranÃ§ois, 1990.
"The "small worlds" axiom for stable equilibria,"
CORE Discussion Papers
1990007, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
When requesting a correction, please mention this item's handle: RePEc:eee:matsoc:v:41:y:2001:i:1:p:111-130. 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.