Perfect equilibrium and lexicographic beliefs
We extend the results of Blume, Brandenberger, and Dekel (1991b) to obtain a finite characterization of perfect equilibria in terms of lexicographic probability systems (LPSs). The LPSs we consider are defined over individual strategy sets and thus capture the property of independence among players' actions. Our definition of a product LPS over joint actions of the players is shown to be canonical, in the sense that any independent LPS on joint actions is essentially equivalent to a product LPS according to our definition.
Volume (Year): 31 (2003)
Issue (Month): 2 ()
|Note:||Received February 2002/Final version June 2002|
|Contact details of provider:|| Web page: http://www.springer.com|
|Order Information:||Web: http://www.springer.com/economics/economic+theory/journal/182/PS2|
When requesting a correction, please mention this item's handle: RePEc:spr:jogath:v:31:y:2003:i:2:p:229-243. 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: (Sonal Shukla)or (Rebekah McClure)
If references are entirely missing, you can add them using this form.