On conservative stable standard of behaviour in situations with perfect foresight
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.
|Date of creation:||00 Jul 2003|
|Date of revision:|
|Contact details of provider:|| Postal: |
Fax: +32 10474304
Web page: http://www.uclouvain.be/core
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.:
- Xue, Licun, 1997. "Nonemptiness of the Largest Consistent Set," Journal of Economic Theory, Elsevier, vol. 73(2), pages 453-459, April.
- Greenberg, Joseph & Monderer, Dov & Shitovitz, Benyamin, 1996. "Multistage Situations," Econometrica, Econometric Society, vol. 64(6), pages 1415-37, November.
- Herings P. Jean-Jacques & Mauleon Ana & Vannetelbosch J., 2000.
009, Maastricht University, Maastricht Research School of Economics of Technology and Organization (METEOR).
- 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.
- Herings, P.J.J. & Mauleon, A. & Vannetelbosch, V., 2000. "Social Rationalizability," Discussion Paper 2000-81, Tilburg University, Center for Economic Research.
- Herings P. Jean-Jacques & Mauleon Ana & Vannetelbosch J., 2002. "Social Rationalizability," Research Memorandum 009, Maastricht University, Maastricht Research School of Economics of Technology and Organization (METEOR).
- 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.
- Matthew O. Jackson & Asher Wolinsky, 1994. "A Strategic Model of Social and Economic Networks," Discussion Papers 1098, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
- Matthew O. Jackson & Asher Wolinsky, 1995. "A Strategic Model of Social and Economic Networks," Discussion Papers 1098R, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
- Bhattacharya, Anindya, 2002. "Coalitional stability with a credibility constraint," Mathematical Social Sciences, Elsevier, vol. 43(1), pages 27-44, January.
- Licun Xue, 1998. "Coalitional stability under perfect foresight," Economic Theory, Springer, vol. 11(3), pages 603-627.
- Peleg, Bezalel, 2002. "Game-theoretic analysis of voting in committees," Handbook of Social Choice and Welfare, in: K. J. Arrow & A. K. Sen & K. Suzumura (ed.), Handbook of Social Choice and Welfare, edition 1, volume 1, chapter 8, pages 395-423 Elsevier.
When requesting a correction, please mention this item's handle: RePEc:cor:louvco:2003049. 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: (Alain GILLIS)
If references are entirely missing, you can add them using this form.