On the inconsistency of equilibrium refinement (Q1403967)

From MaRDI portal
Revision as of 08:29, 30 July 2024 by Openalex240730090724 (talk | contribs) (Set OpenAlex properties.)
(diff) ← Older revision | Latest revision (diff) | Newer revision → (diff)
scientific article
Language Label Description Also known as
English
On the inconsistency of equilibrium refinement
scientific article

    Statements

    On the inconsistency of equilibrium refinement (English)
    0 references
    20 August 2003
    0 references
    The author considers finite \(n\)-person games in normal form. \textit{H. Norde, J. Potters, H. Reijnierse} and \textit{D. Vermeulen} [Games and Econ. Behav. 12, No. 2, 219--225 (1996; Zbl 0848.90132)] proved that each solution concept satisfying non-emptiness, optimality, and consistency axioms coincides with the Nash equilibrium concept. Hence any refinement and selection procedures violate these axioms. First the author suggests a refinement of strict equilibria which violates non-emptiness, but determines a subclass of games for which it is still consistent. Next, he suggests a selection procedure which relies upon a weakened consistency requirement.
    0 references
    non-cooperative games
    0 references
    equilibrium selection
    0 references
    0 references

    Identifiers