AGM-consistency and perfect Bayesian equilibrium. Part II: from PBE to sequential equilibrium
This is a slightly extended version of a chapter prepared for the Handbook of Logics for Knowledge and Belief edited by Hans van Ditmarsch, Joseph Y. Halpern, Wiebe van der Hoek, and Barteld Kooi, College Publications, London. In  (Int. J. Game Theory, 42:567-592, 2013) a general notion of perfect Bayesian equilib- rium (PBE) was introduced for extensive-form games and shown to be intermediate between subgame-perfect equilibrium and sequential equilibrium. The essential ingredient of the pro- posed notion is the existence of a plausibility order on the set of histories that rationalizes a given assessment. In this paper we study restrictions on the belief revision policy encoded in a plausibility order and provide necessary and su¢ cient conditions for a PBE to be a sequential equilibrium.
|Date of creation:||07 Jan 2014|
|Date of revision:|
|Contact details of provider:|| Postal: |
Phone: (530) 752-0741
Fax: (530) 752-9382
Web page: http://www.econ.ucdavis.edu
More information through EDIRC
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Hendon, Ebbe & Jacobsen, Hans Jorgen & Sloth, Birgitte, 1996. "The One-Shot-Deviation Principle for Sequential Rationality," Games and Economic Behavior, Elsevier, vol. 12(2), pages 274-282, February.
- Perea y Monsuwe, Andres & Jansen, Mathijs & Peters, Hans, 1997. "Characterization of Consistent Assessments in Extensive Form Games," Games and Economic Behavior, Elsevier, vol. 21(1-2), pages 238-252, October.
- Martin J Osborne & Ariel Rubinstein, 2009.
"A Course in Game Theory,"
814577000000000225, UCLA Department of Economics.
- Kohlberg, Elon & Reny, Philip J., 1997. "Independence on Relative Probability Spaces and Consistent Assessments in Game Trees," Journal of Economic Theory, Elsevier, vol. 75(2), pages 280-313, August.
- Battigalli, Pierpaolo, 1996. "Strategic Independence and Perfect Bayesian Equilibria," Journal of Economic Theory, Elsevier, vol. 70(1), pages 201-234, July.
- Peter A. Streufert, 2012. "Additive Plausibility Characterizes the Supports of Consistent Assessments," UWO Department of Economics Working Papers 20123, University of Western Ontario, Department of Economics.
- Perea, Andres, 2002. "A note on the one-deviation property in extensive form games," Games and Economic Behavior, Elsevier, vol. 40(2), pages 322-338, August.
When requesting a correction, please mention this item's handle: RePEc:cda:wpaper:14-1. 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: (Scott Dyer)
If references are entirely missing, you can add them using this form.