A Generic Game With no Self-Enforcing Equilibrium

A.Q. Arana

UFAE and IAE Working Papers from Unitat de Fonaments de l'Anàlisi Econòmica (UAB) and Institut d'Anàlisi Econòmica (CSIC)

Abstract: Under not-too-stringent assumptions this study shows that there exists a generic extensive-form game having no "strategically stable" equilibrium. In addition, it is suggested that careless invocation of "common belief assumption" may be a potential source of inconsistent beliefs for players.

Keywords: GAME THEORY; ECONOMIC EQUILIBRIUM (search for similar items in EconPapers)
JEL-codes: C70 C72 (search for similar items in EconPapers)
Pages: 21 pages
Date: 1996
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Persistent link: https://EconPapers.repec.org/RePEc:aub:autbar:342.96

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