Revealed preferences of individual players in sequential games

Hiroki Nishimura

Journal of Mathematical Economics, 2021, vol. 96, issue C

Abstract: This paper studies rational choice behavior of a player in sequential games of perfect and complete information without an assumption that the other players who join the same games are rational. The model of individually rational choice is defined through a decomposition of the behavioral norm assumed in the subgame perfect equilibria, and we propose a set of axioms on collective choice behavior that characterize the individual rationality obtained as such. As the choice of subgame perfect equilibrium paths is a special case where all players involved in the choice environment are each individually rational, the paper offers testable characterizations of both individual rationality and collective rationality in sequential games.

Keywords: Revealed preference; Individual rationality; Subgame perfect equilibrium (search for similar items in EconPapers)
Date: 2021
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Persistent link: https://EconPapers.repec.org/RePEc:eee:mateco:v:96:y:2021:i:c:s0304406821000859

DOI: 10.1016/j.jmateco.2021.102522

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