Games with imperfect information often feature multiple equilibria, which depend on beliefs off the equilibrium path. Standard selection criteria such as passive beliefs, symmetric beliefs or wary beliefs rest on ad hoc restrictions on beliefs. We propose a new selection criterion that imposes...

Games with imperfect information often feature multiple equilibria, which depend on beliefs off the equilibrium path. Standard selection criteria such as passive beliefs, symmetric beliefs or wary beliefs equilibria rest on ad hoc restrictions on beliefs. We propose a new selection criterion...

Games with imperfect information often feature multiple equilibria, which depend on beliefs off the equilibrium path. Standard selection criteria such as passive beliefs, symmetric beliefs or wary beliefs rest on ad hoc restrictions on beliefs. We propose a new selection criterion that imposes...

We consider a class of equilibrium refinements for finite games in strategic form. The refinements in this family are indexed from least to most restrictive. Proper equilibrium is obtained as a special case within the class; all other concepts are stronger than trembling-hand perfection and...

This work follows the citizen candidate model of Besley and Coate (1997) to show that for a unidimensional policy issue, a moderate default policy rules out equilibrium outcomes in which there is an uncontested candidate

In this paper we look for a solution to a land division problem that could be applied to different types of disputes when the arbitrator has a very limited information about the agents' preferences. The solution must be fair and efficient under the constraint of the limited information available...