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On conservative stable standard of behaviour in situations with perfect foresight

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  • BHATTACHARYA, Anindya
  • ZIAD, Abderrahmane

Abstract

In this note we show that the solution notion called conservative stable standard of behaviour (CSSB), introduced by Greenberg (1990) has very little predictive power in environments with farsighted players although intuitively it is quite nice. First we show that CSSB can make no prediction at all in a large class of environments that are commonly encountered (like normal form games, social networks etc.), i.e., the entire set of social states is stable with respect to this notion. Next we find that even with some feasibility restrictions on the paths, the set of outcomes stable with respect to CSSB is a superset (some times a strict superset) of the largest consistent set (LCS) in a class of environments that includes voting games with a finite number of outcomes, even though for such environments the LCS itself may contain many intuitively unreasonable outcomes.

Suggested Citation

  • BHATTACHARYA, Anindya & ZIAD, Abderrahmane, 2003. "On conservative stable standard of behaviour in situations with perfect foresight," CORE Discussion Papers 2003049, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
  • Handle: RePEc:cor:louvco:2003049
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    File URL: https://uclouvain.be/en/research-institutes/immaq/core/dp-2003.html
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    References listed on IDEAS

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    1. Peleg,Bezalel, 2008. "Game Theoretic Analysis of Voting in Committees," Cambridge Books, Cambridge University Press, number 9780521074650.
    2. J. J. Herings & A. Mauleon & V. Vannetelbosch, 2000. "Social Rationalizability," THEMA Working Papers 2000-36, THEMA (THéorie Economique, Modélisation et Applications), Université de Cergy-Pontoise.
    3. Bhattacharya, Anindya, 2002. "Coalitional stability with a credibility constraint," Mathematical Social Sciences, Elsevier, vol. 43(1), pages 27-44, January.
    4. Jackson, Matthew O. & Wolinsky, Asher, 1996. "A Strategic Model of Social and Economic Networks," Journal of Economic Theory, Elsevier, vol. 71(1), pages 44-74, October.
    5. Greenberg, Joseph & Monderer, Dov & Shitovitz, Benyamin, 1996. "Multistage Situations," Econometrica, Econometric Society, vol. 64(6), pages 1415-1437, November.
    6. Licun Xue, 1998. "Coalitional stability under perfect foresight," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 11(3), pages 603-627.
    7. Xue, Licun, 1997. "Nonemptiness of the Largest Consistent Set," Journal of Economic Theory, Elsevier, vol. 73(2), pages 453-459, April.
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    Cited by:

    1. Page, Frank Jr. & Wooders, Myrna H. & Kamat, Samir, 2005. "Networks and farsighted stability," Journal of Economic Theory, Elsevier, vol. 120(2), pages 257-269, February.

    More about this item

    JEL classification:

    • C70 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - General
    • C71 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Cooperative Games
    • C72 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Noncooperative Games

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