Invariance properties of persistent equilibria and related solution concepts
Invariance properties of persistent equilibria and related solution concepts
Kohlberg and Mertens argued that a solution concept to a game should be invariant under the addition of deletion of an equivalent strategy and not require the use of weakly dominated strategies. In this paper we study which of these requirements are satisfied by Kalai and Samet's concepts of persistent equilibria and persistent retracts. While none of these concepts has all the invariance properties, we show that a slight rephrasing of the notion of a persistent retract leads to a notion satisfying them all.
University of Southampton
Balkenborg, D.
b0145d26-8f5c-4af7-952c-c5b5a6e1b150
Jansen, M.
50b536e1-2d19-47da-b015-f57411d69c72
Vermeulen, D.
14ac7874-899a-41c7-a702-66d22f0d5991
January 1998
Balkenborg, D.
b0145d26-8f5c-4af7-952c-c5b5a6e1b150
Jansen, M.
50b536e1-2d19-47da-b015-f57411d69c72
Vermeulen, D.
14ac7874-899a-41c7-a702-66d22f0d5991
Balkenborg, D., Jansen, M. and Vermeulen, D.
(1998)
Invariance properties of persistent equilibria and related solution concepts
(Discussion Papers in Economics and Econometrics, 9806)
Southampton, UK.
University of Southampton
Record type:
Monograph
(Discussion Paper)
Abstract
Kohlberg and Mertens argued that a solution concept to a game should be invariant under the addition of deletion of an equivalent strategy and not require the use of weakly dominated strategies. In this paper we study which of these requirements are satisfied by Kalai and Samet's concepts of persistent equilibria and persistent retracts. While none of these concepts has all the invariance properties, we show that a slight rephrasing of the notion of a persistent retract leads to a notion satisfying them all.
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Published date: January 1998
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Local EPrints ID: 33160
URI: http://eprints.soton.ac.uk/id/eprint/33160
PURE UUID: 5388fe95-ca8b-4c50-81df-6e40034fe049
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Date deposited: 05 Feb 2008
Last modified: 11 Dec 2021 15:19
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Author:
D. Balkenborg
Author:
M. Jansen
Author:
D. Vermeulen
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