The algebraic geometry of perfect and sequential equilibrium: an extension
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 ac...
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| Format: | Article |
| Language: | English |
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Springer
2020
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| Online Access: | https://eprints.nottingham.ac.uk/60452/ |
| _version_ | 1848799764721696768 |
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| author | Luo, Xiao Qian, Xuewen Sun, Yang |
| author_facet | Luo, Xiao Qian, Xuewen Sun, Yang |
| author_sort | Luo, Xiao |
| building | Nottingham Research Data Repository |
| collection | Online Access |
| description | 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. (2009). As a by-product, we show, in the affirmative, Dekel et al.'s (1999) conjecture on the generic equivalence between the sequential and perfect versions of rationalizable self-confirming equilibrium. JEL Classification: C70, C72 |
| first_indexed | 2025-11-14T20:40:51Z |
| format | Article |
| id | nottingham-60452 |
| institution | University of Nottingham Malaysia Campus |
| institution_category | Local University |
| language | English |
| last_indexed | 2025-11-14T20:40:51Z |
| publishDate | 2020 |
| publisher | Springer |
| recordtype | eprints |
| repository_type | Digital Repository |
| spelling | nottingham-604522020-04-28T01:38:41Z https://eprints.nottingham.ac.uk/60452/ The algebraic geometry of perfect and sequential equilibrium: an extension Luo, Xiao Qian, Xuewen Sun, Yang 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. (2009). As a by-product, we show, in the affirmative, Dekel et al.'s (1999) conjecture on the generic equivalence between the sequential and perfect versions of rationalizable self-confirming equilibrium. JEL Classification: C70, C72 Springer 2020-03-30 Article PeerReviewed application/pdf en cc_by https://eprints.nottingham.ac.uk/60452/1/ECTH-D-19-00288_R2%20%285%29.pdf Luo, Xiao, Qian, Xuewen and Sun, Yang (2020) The algebraic geometry of perfect and sequential equilibrium: an extension. Economic Theory . ISSN 0938-2259 Extensive forms; generic payoffs; perfect rationality; sequential rationality; MACA; semi-algebraic sets http://dx.doi.org/10.1007/s00199-020-01259-z doi:10.1007/s00199-020-01259-z doi:10.1007/s00199-020-01259-z |
| spellingShingle | Extensive forms; generic payoffs; perfect rationality; sequential rationality; MACA; semi-algebraic sets Luo, Xiao Qian, Xuewen Sun, Yang The algebraic geometry of perfect and sequential equilibrium: an extension |
| title | The algebraic geometry of perfect and sequential equilibrium: an extension |
| title_full | The algebraic geometry of perfect and sequential equilibrium: an extension |
| title_fullStr | The algebraic geometry of perfect and sequential equilibrium: an extension |
| title_full_unstemmed | The algebraic geometry of perfect and sequential equilibrium: an extension |
| title_short | The algebraic geometry of perfect and sequential equilibrium: an extension |
| title_sort | algebraic geometry of perfect and sequential equilibrium: an extension |
| topic | Extensive forms; generic payoffs; perfect rationality; sequential rationality; MACA; semi-algebraic sets |
| url | https://eprints.nottingham.ac.uk/60452/ https://eprints.nottingham.ac.uk/60452/ https://eprints.nottingham.ac.uk/60452/ |