AGM-consistency and perfect Bayesian equilibrium. Part I: definition and properties

Giacomo Bonanno ()

No 171, Working Papers from University of California, Davis, Department of Economics

Abstract: We provide a general notion of perfect Bayesian equilibrium which can be applied to arbitrary extensive-form games and is intermediate between subgame-perfect equilibrium and sequential equilibrium. The essential ingredient of the proposed definition is the qualitative notion of AGM-consistency, which has an epistemic justification based on the AGM theory of belief revision.

Keywords: belief revision; plausibility order; consistency; subgame-perfect equilibrium; sequential equilibrium; Bayesian updating. (search for similar items in EconPapers)
JEL-codes: C7 (search for similar items in EconPapers)
Pages: 23
Date: 2010-10-29
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Citations: View citations in EconPapers (2)

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Related works:
Journal Article: AGM-consistency and perfect Bayesian equilibrium. Part I: definition and properties (2013)
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