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How Proper Is Sequential Equilibrium?

Author

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  • Mailath, G.J.
  • Samuelson, L.

Abstract

A strategy profile of a normal form game is proper if and only if it is quas-perfect in every extensive form (with that normal form). Thus, properness requires optimality along a sequency of supporting trembles, while sequentiality only requires optimality in the limit.

Suggested Citation

  • Mailath, G.J. & Samuelson, L., 1996. "How Proper Is Sequential Equilibrium?," Working papers 9611r, Wisconsin Madison - Social Systems.
  • Handle: RePEc:att:wimass:9611r
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    References listed on IDEAS

    as
    1. Mailath George J. & Samuelson Larry & Swinkels Jeroen M., 1994. "Normal Form Structures in Extensive Form Games," Journal of Economic Theory, Elsevier, vol. 64(2), pages 325-371, December.
    2. Mailath, George J & Samuelson, Larry & Swinkels, Jeroen M, 1993. "Extensive Form Reasoning in Normal Form Games," Econometrica, Econometric Society, vol. 61(2), pages 273-302, March.
    3. Marx, Leslie M. & Swinkels, Jeroen M., 2000. "Order Independence for Iterated Weak Dominance," Games and Economic Behavior, Elsevier, vol. 31(2), pages 324-329, May.
    4. Wolfgang Pesendorfer & Jeroen M. Swinkels, 1997. "The Loser's Curse and Information Aggregation in Common Value Auctions," Econometrica, Econometric Society, vol. 65(6), pages 1247-1282, November.
    5. Blume, Lawrence & Brandenburger, Adam & Dekel, Eddie, 1991. "Lexicographic Probabilities and Equilibrium Refinements," Econometrica, Econometric Society, vol. 59(1), pages 81-98, January.
    6. Roger B. Myerson, 1977. "Refinements of the Nash Equilibrium Concept," Discussion Papers 295, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
    7. 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.
    8. Lawrence Blume & Adam Brandenburger & Eddie Dekel, 2014. "Lexicographic Probabilities and Choice Under Uncertainty," World Scientific Book Chapters, in: The Language of Game Theory Putting Epistemics into the Mathematics of Games, chapter 6, pages 137-160, World Scientific Publishing Co. Pte. Ltd..
    9. Myerson, Roger B, 1986. "Multistage Games with Communication," Econometrica, Econometric Society, vol. 54(2), pages 323-358, March.
    10. Kohlberg, Elon & Mertens, Jean-Francois, 1986. "On the Strategic Stability of Equilibria," Econometrica, Econometric Society, vol. 54(5), pages 1003-1037, September.
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    Citations

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    Cited by:

    1. Srihari Govindan & Robert Wilson, 2009. "On Forward Induction," Econometrica, Econometric Society, vol. 77(1), pages 1-28, January.
    2. Dekel, Eddie & Friedenberg, Amanda & Siniscalchi, Marciano, 2016. "Lexicographic beliefs and assumption," Journal of Economic Theory, Elsevier, vol. 163(C), pages 955-985.
    3. Asheim,G.B. & Perea,A., 2000. "Lexicographic probabilities and rationalizability in extensive games," Memorandum 38/2000, Oslo University, Department of Economics.
    4. Antoni Calvó-Armengol & Rahmi İlkılıç, 2009. "Pairwise-stability and Nash equilibria in network formation," International Journal of Game Theory, Springer;Game Theory Society, vol. 38(1), pages 51-79, March.
    5. Asheim, Geir B. & Perea, Andres, 2005. "Sequential and quasi-perfect rationalizability in extensive games," Games and Economic Behavior, Elsevier, vol. 53(1), pages 15-42, October.
    6. John Hillas, 1996. "On the Relation Between Perfect Equilibria in Extensive Form Games and Proper Equilibria in Normal Form Games," Game Theory and Information 9605002, University Library of Munich, Germany, revised 14 May 1996.
    7. Petri, Henrik, 2020. "Lexicographic probabilities and robustness," Games and Economic Behavior, Elsevier, vol. 122(C), pages 426-439.

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    More about this item

    Keywords

    GAME THEORY; ECONOMIC EQUILIBRIUM;

    JEL classification:

    • C70 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - General
    • C72 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Noncooperative Games

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