Subgame perfect equilibrium in continuous games of perfect information: An elementary approach to existence and approximation by discrete games (Q2641228)
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scientific article; zbMATH DE number 4189500
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| English | Subgame perfect equilibrium in continuous games of perfect information: An elementary approach to existence and approximation by discrete games |
scientific article; zbMATH DE number 4189500 |
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Subgame perfect equilibrium in continuous games of perfect information: An elementary approach to existence and approximation by discrete games (English)
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1990
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This paper relates infinite-action (continuous) games of perfect information to finite-action approximations of such games and thereby obtains a new existence proof for subgame-perfect equilibrium (SPE) in the finite-action case. Accumulation points of SPE paths of approximating finite-action games are shown to be SPE paths of the limiting infinite- action game. However, no such upper hemi-continuity property holds for SPE strategies. The discontinuity in strategies corresponds to a need for forward induction in the SPE construction for the infinite-action game, thus conflicting with the Harsanyi-Selten principle of subgame consistency.
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infinite-action continuous games
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perfect information
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finite-action approximations
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subgame-perfect equilibrium
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subgame consistency
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0.8837565183639526
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0.8505542874336243
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0.8472790718078613
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0.8415825963020325
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0.8415271043777466
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