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On the equivalence between (quasi-)perfect and sequential equilibria

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  • Carlos Pimienta

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  • Jianfei Shen

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Abstract

We prove the generic equivalence between quasi-perfect equilibrium and sequential equilibrium. Combining this result with Blume and Zame (Econometrica 62:783–794, 1994 ) shows that perfect, quasi-perfect and sequential equilibrium coincide in generic games. Copyright Springer-Verlag Berlin Heidelberg 2014

Suggested Citation

  • Carlos Pimienta & Jianfei Shen, 2014. "On the equivalence between (quasi-)perfect and sequential equilibria," International Journal of Game Theory, Springer;Game Theory Society, vol. 43(2), pages 395-402, May.
  • Handle: RePEc:spr:jogath:v:43:y:2014:i:2:p:395-402
    DOI: 10.1007/s00182-013-0384-8
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    References listed on IDEAS

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    1. Kreps, David M & Wilson, Robert, 1982. "Sequential Equilibria," Econometrica, Econometric Society, vol. 50(4), pages 863-894, July.
    2. Srihari Govindan & Robert Wilson, 2012. "Axiomatic Equilibrium Selection for Generic Two‐Player Games," Econometrica, Econometric Society, vol. 80(4), pages 1639-1699, July.
    3. Mertens, J.-F., 1995. "Two examples of strategic equilibrium," Games and Economic Behavior, Elsevier, vol. 8(2), pages 378-388.
    4. Blume, Lawrence E & Zame, William R, 1994. "The Algebraic Geometry of Perfect and Sequential Equilibrium," Econometrica, Econometric Society, vol. 62(4), pages 783-794, July.
    5. Elmes Susan & Reny Philip J., 1994. "On the Strategic Equivalence of Extensive Form Games," Journal of Economic Theory, Elsevier, vol. 62(1), pages 1-23, February.
    6. van Damme, E.E.C., 1984. "A relation between perfect equilibria in extensive form games and proper equilibria in normal form games," Other publications TiSEM 3734d89e-fd5c-4c80-a230-5, Tilburg University, School of Economics and Management.
    7. Govindan, Srihari & Wilson, Robert B., 2006. "Sufficient conditions for stable equilibria," Theoretical Economics, Econometric Society, vol. 1(2), pages 167-206, June.
    8. Reny, Philip J, 1992. "Backward Induction, Normal Form Perfection and Explicable Equilibria," Econometrica, Econometric Society, vol. 60(3), pages 627-649, May.
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    More about this item

    Keywords

    Backwards induction; Perfect equilibrium; Quasi-perfect equilibrium; Sequential equilibrium; Lower-hemicontinuity; Upper-hemicontinuity; C72;

    JEL classification:

    • C72 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Noncooperative Games

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