On Continuity of Robust Equilibria
We relax the Kajii and Morris (1997a) notion of equilibrium ro- bustness by allowing approximate equilibria when information in a game becomes incomplete. The new notion is termed "approximate robustness". The approximately robust equilibrium correspondence turns out to be upper hemicontinuous, unlike the (exactly) robust equilibrium correspondence. Another distinction comes to light when we show that, as a corollary of upper hemicontinuity, approximately robust equilibria exist in all zero-sum games. Thus, although approx- imate robustness is only a small variation of the original notion, it is strictly weaker than the latter, and its adoption enriches the domain of games for which robust equilibria exist.
|Date of creation:||May 2012|
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- Atsushi Kajii & Stephen Morris, "undated".
""The Robustness of Equilibria to Incomplete Information*'',"
CARESS Working Papres
95-18, University of Pennsylvania Center for Analytic Research and Economics in the Social Sciences.
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- Atsushi Kajii & Stephen Morris, "undated". "The Robustness of Equilibria to Incomplete Information," Penn CARESS Working Papers ed504c985fc375cbe719b3f60, Penn Economics Department.
- Daisuke Oyama & Satoru Takahashi, 2011.
"On the Relationship between Robustness to Incomplete Information and Noise-Independent Selection in Global Games,"
1324, Princeton University, Department of Economics, Econometric Research Program..
- Oyama, Daisuke & Takahashi, Satoru, 2011. "On the relationship between robustness to incomplete information and noise-independent selection in global games," Journal of Mathematical Economics, Elsevier, vol. 47(6), pages 683-688.
- smorris & Takashi Ui, 2004.
"Generalized Potentials and Robust Sets of Equilibria,"
Econometric Society 2004 North American Winter Meetings
45, Econometric Society.
- Morris, Stephen & Ui, Takashi, 2005. "Generalized potentials and robust sets of equilibria," Journal of Economic Theory, Elsevier, vol. 124(1), pages 45-78, September.
- Stephen Morris & Takashi Ui, 2003. "Generalized Potentials and Robust Sets of Equilibria," Levine's Working Paper Archive 506439000000000325, David K. Levine.
- Stephen Morris & Takashi Ui, 2003. "Generalized Potentials and Robust Sets of Equilibria," Cowles Foundation Discussion Papers 1394, Cowles Foundation for Research in Economics, Yale University.
- Ui, Takashi, 2001. "Robust Equilibria of Potential Games," Econometrica, Econometric Society, vol. 69(5), pages 1373-1380, September.
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