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Existence and stability of minimax regret equilibria

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  • Zhe Yang

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  • Yong Pu

Abstract

In this paper, we study minimax regret equilibria. First, existence theorem of minimax regret equilibria is proved. Further, the generic stability of minimax regret equilibria is studied. We show that the set of minimax regret equilibria for most of problems (in sense of Baire category) is a singleton set. Copyright Springer Science+Business Media, LLC. 2012

Suggested Citation

  • Zhe Yang & Yong Pu, 2012. "Existence and stability of minimax regret equilibria," Journal of Global Optimization, Springer, vol. 54(1), pages 17-26, September.
  • Handle: RePEc:spr:jglopt:v:54:y:2012:i:1:p:17-26
    DOI: 10.1007/s10898-011-9738-6
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    References listed on IDEAS

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    1. Stoye, Jörg, 2011. "Axioms for minimax regret choice correspondences," Journal of Economic Theory, Elsevier, vol. 146(6), pages 2226-2251.
    2. Michael R. Baye & John Morgan, 2004. "Price Dispersion in the Lab and on the Internet: Theory and Evidence," RAND Journal of Economics, The RAND Corporation, vol. 35(3), pages 448-466, Autumn.
    3. Hayashi, Takashi, 2008. "Regret aversion and opportunity dependence," Journal of Economic Theory, Elsevier, vol. 139(1), pages 242-268, March.
    4. Yu, Jian, 1999. "Essential equilibria of n-person noncooperative games," Journal of Mathematical Economics, Elsevier, vol. 31(3), pages 361-372, April.
    5. Jörg Stoye, 2011. "Statistical decisions under ambiguity," Theory and Decision, Springer, vol. 70(2), pages 129-148, February.
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