A NOTE ON BAGWELL'S PARADOX AND FORWARD INDUCTION IN THREE CLASSIC GAMES

Stackelberg-like games show a situation where there is a clear advantage in moving first. In a thought provoking article, Bagwell [1995] shows that this advantage may not be robust against imperfect observations of the first move. We explore these ideas in the context of forward induction in three classic games, namely, the outside option game, the game of burning a dollar before the battle of the sexes and the beer-quiche game.

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Year of publication:	2011
Authors:	FERREIRA, JOSÉ LUIS
Published in:	International Game Theory Review (IGTR). - World Scientific Publishing Co. Pte. Ltd., ISSN 1793-6675. - Vol. 13.2011, 01, p. 93-104
Publisher:	World Scientific Publishing Co. Pte. Ltd.
Subject:	Bagwell's paradox \| noise \| battle of the sexes \| Beer-Quiche game \| outside option \| forward induction

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Extent:	application/pdf text/html
Type of publication:	Article
Classification:	B4 - Economic Methodology ; C0 - Mathematical and Quantitative Methods. General ; C6 - Mathematical Methods and Programming ; C7 - Game Theory and Bargaining Theory ; D5 - General Equilibrium and Disequilibrium ; D7 - Analysis of Collective Decision-Making ; M2 - Business Economics ; C72 - Noncooperative Games ; G13 - Contingent Pricing; Futures Pricing ; L13 - Oligopoly and Other Imperfect Markets
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10009366444