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

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.

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Year of publication:	2010-10-30
Authors:	Bonanno, Giacomo
Institutions:	Economics Department, University of California-Davis
Subject:	belief revision \| plausibility order \| consistency \| subgame-perfect equilibrium \| sequential equilibrium \| Bayesian updating

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Extent:	application/pdf
Series:	Working Papers.
Type of publication:	Book / Working Paper
Notes:	Number 1017 2 pages long
Classification:	C7 - Game Theory and Bargaining Theory
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10008691732