Sutton, John - Suntory and Toyota International Centres for Economics … - 1995
This paper proposes an equilibrium concept for a class of games in which players make irreversible costly decisions …; these games have been widely used in the recent I.O. literature. The equilibrium concept is defined, not in the space of … requirement: if a profitable opportunity exists in the market, there is ?One smart agent ? who will find it. This weak equilibrium …