Harris, Christopher; Reny, Philip; Robson, Arthur - In: Econometrica 63 (1995) 3, pp. 507-44
The starting point of this paper is a simple, regular, dynamic game in which a subgame-perfect equilibrium fails to exist. Examination of this example shows that existence would be restored if players were allowed to observe the output of a public-randomization device. The main result of the...