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Axiomatic Equilibrium Selection: The Case of Generic Extensive Form Games

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  • Srihari Govindan
  • Robert B. Wilson

Abstract

A solution concept that is a refinement of Nash equilibria selects for each finite game a nonempty collection of closed and connected subsets of Nash equilibria as solutions. We impose three axioms for such solution concepts. The axiom of backward induction requires each solution to contain a quasi-perfect equilibrium. Two invariance axioms posit that solutions of a game are the same as those of a game obtained by the addition of strategically irrelevant strategies and players. Stability satisfies these axioms; and any solution concept that satisfies them must, for generic extensive-form games, select from among its stable outcomes. A strengthening of the two invariance axioms provides an analogous axiomatization of components of equilibria with a nonzero index.

Suggested Citation

  • Srihari Govindan & Robert B. Wilson, 2025. "Axiomatic Equilibrium Selection: The Case of Generic Extensive Form Games," Papers 2504.16908, arXiv.org.
    • Handle: RePEc:arx:papers:2504.16908
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