The algebraic geometry of perfect and sequential equilibrium: an extension

Autor:	Xuewen Qian, Xiao Luo, Yang Sun
Rok vydání:	2020
Předmět:	Course of action Economics and Econometrics Sequential equilibrium Conjecture Strategic behavior Non-equilibrium thermodynamics Algebraic geometry Equivalence (formal languages) Solution concept Mathematical economics Mathematics
Zdroj:	Economic Theory. 71:579-601
ISSN:	1432-0479 0938-2259
DOI:	10.1007/s00199-020-01259-z
Popis:	We extend the generic equivalence result of Blume and Zame (Econometrica 62:783–794, 1994) to a broader context of perfectly and sequentially rational strategic behavior (including equilibrium and nonequilibrium behavior) through a unifying solution concept of “mutually acceptable course of action” (MACA) proposed by Greenberg et al. (Econ Theory 40:91–112, 2009. https://doi.org/10.1007/s00199-008-0349-5 ). As a by-product, we show, in the affirmative, Dekel et al.’s (J Econ Theory 89:165–185, 1999) conjecture on the generic equivalence between the sequential and perfect versions of rationalizable self-confirming equilibrium.
Databáze:	OpenAIRE
Externí odkaz:	https://explore.openaire.eu/search/publication?articleId=doi_dedup___::3b6cabb446b2c42f9ce6668254dafe25 https://doi.org/10.1007/s00199-020-01259-z Zobrazit plný text záznamu Full text from SpringerLink