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This note characterizes ordinal potential games by the absence of weak improvement cycles and an order condition on the strategy space.This order condition is automatically satisfied if the strategy space is countable.
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Norde et al.[Games Econ.Behav. 12 (1996) 219] proved that none of the equilibrium concepts in the literature on equilibrium selection in finite strategic games satisfying existence is consistent.A transition to set-valued solution concepts overcomes the inconsistency problem: there is a...
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The function that assigns to each matrix game (i.e., the mixed extension of a finite zero-sum two-player game) its value is axiomatized by a number of intuitive properties.
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Norde et al. [Games Econ. Behav. 12 (1996) 219] proved that none of the equilibrium concepts in the literature on equilibrium selection in finite strategic games satisfying existence is consistent. A transition to set-valued solution concepts overcomes the inconsistency problem: there is a...
Persistent link: https://www.econbiz.de/10005649296
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We extend the consistency principle for strategic games (Peleg and Tijs (1996)) to apply to solutions which assign to each game a collection of product sets of strategies. Such solutions turn out to satisfy desirable properties that solutions assigning to each game a collection of strategy...
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