AGM-consistency and perfect Bayesian equilibrium. Part I: definition and properties
We provide a general notion of perfect Bayesian equilibrium which can be applied to arbitrary extensive-form games and is intermediate between subgame-perfect equilibrium and sequential equilibrium. The essential ingredient of the proposed definition is the qualitative notion of AGM-consistency, which has an epistemic justification based on the AGM theory of belief revision.
|Date of creation:||30 Oct 2010|
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Levine's Working Paper Archive
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