Correlated equilibrium as a stable standard of behavior
We study the concept of correlated equilibrium within the framework of social situations (Greenberg 1990) and find that the unique optimistic stable standard of behavior (OSSB) of an appropriately defined correlated situation is nothing but the set of correlated equilibria. We generalize this situation in a natural way to accommodate coalitional deviations, and define the strong correlated situation. As the unique OSSB of this new situation, we derive a strong refinement of the set of correlated equilibria which we call strong correlated equilibrium. We analyse our concept and compare it with other existing notions using several examples.
If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.
Volume (Year): 3 (1998)
Issue (Month): 3 ()
|Note:||Received: 23 May 1996 / Accepted: 6 October 1997|
|Contact details of provider:|| Web page: https://sites.google.com/site/societyforeconomicdesign/|
|Order Information:||Web: http://www.springer.com/economics/journal/10058|
When requesting a correction, please mention this item's handle: RePEc:spr:reecde:v:3:y:1998:i:3:p:257-269. 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.