Robust perfect equilibrium in large games

Enxian Chen, Lei Qiao, Xiang Sun and Yeneng Sun

Papers from arXiv.org

Abstract: This paper proposes a new equilibrium concept "robust perfect equilibrium" for non-cooperative games with a continuum of players, incorporating three types of perturbations. Such an equilibrium is shown to exist (in symmetric mixed strategies and in pure strategies) and satisfy the important properties of admissibility, aggregate robustness, and ex post robust perfection. These properties strengthen relevant equilibrium results in an extensive literature on strategic interactions among a large number of agents. Illustrative applications to congestion games and potential games are presented. In the particular case of a congestion game with strictly increasing cost functions, we show that there is a unique symmetric robust perfect equilibrium.

Date: 2019-12, Revised 2021-05
New Economics Papers: this item is included in nep-gth
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http://arxiv.org/pdf/1912.12908 Latest version (application/pdf)

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Journal Article: Robust perfect equilibrium in large games (2022)
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Persistent link: https://EconPapers.repec.org/RePEc:arx:papers:1912.12908

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