Perfect equilibrium points and lexicographic domination (Q1111952)
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English | Perfect equilibrium points and lexicographic domination |
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Perfect equilibrium points and lexicographic domination (English)
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1988
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\textit{R. Selten}'s concept of ``perfect equilibrium'' [Int. J. Game Theory 4, 25-55 (1975; Zbl 0312.90072)] is compared with the author's new concept of ``lexicographic undominated'' mixed strategy for non- cooperative games in normal form. It is shown that, in general, perfect equilibria are lexicographically undominated, but the converse is not always true. A local characterization of lexicographically undominated Nash equilibria is also given.
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lexicographic undominated mixed strategy
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non-cooperative games
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normal form
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perfect equilibria
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Nash equilibria
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