On Variations of Perfect Equilibria

Jeong-Yoo Kim

Manchester School, 2019, vol. 87, issue 1, 103-116

Abstract: In this paper, we examine relations among various refinements of a perfect equilibrium. First, we compare two refinements of a perfect equilibrium, a strictly perfect equilibrium (SPE) and a truly perfect equilibrium (TPE). We show that true perfectness implies strict perfectness and even strict properness. We also introduce the concept of a restrictive perfect equilibrium allowing only some or all sequences of totally mixed strategies satisfying a certain property. A proper equilibrium is an example of a restrictive perfect equilibrium. Then, true perfectness imposing the most severe robustness against perturbations implies any restrictive perfectness. This proves that every TPE is proper.

Date: 2019
References: Add references at CitEc
Citations:

Downloads: (external link)
https://doi.org/10.1111/manc.12224

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:bla:manchs:v:87:y:2019:i:1:p:103-116

Ordering information: This journal article can be ordered from
http://www.blackwell ... bs.asp?ref=1463-6786

Access Statistics for this article

Manchester School is currently edited by Keith Blackburn

More articles in Manchester School from University of Manchester Contact information at EDIRC.
Bibliographic data for series maintained by Wiley Content Delivery ().