Often, perfect bayesian equilibrium is loosely defined by stating that players should be sequentially rational given some beliefs in which Bayes rule is applied whenever possible". We show that there are games in which it is not clear what whenever possible" means. Then, we provide a simple...

Theories about unique equilibrium selection are often rejected in experimental investigations. We drop the idea of selecting a single prominent equilibrium but suggest the coexistence of different beliefs about "appropriate" equilibrium or non-equilibrium play. Our main selection criterion is...

In Binary Threshold Public Good (BTPG) games n players contribute or not to the production of a public good which is produced if and only if there are at least k contributors. The BTPG games with the highest (k=n) and the lowest (k=1) threshold are the Stag Hunt game and the Volunteer's Dilemma....

In Binary Threshold Public Good (BTPG) games players contribute or not to the production of a public good which is produced if and only if there are "enough" contributors. There is a plethora of equilibria in BTPG games. We experimentally test general theoretical attributes of equilibria and...

We consider equilibrium selection in 2x2 bimatrix (both symmetric and asymmetric) games with two strict Nash equilibria by embedding it in a dynamic random matching game played by a continuum of anonymous agents. Unlike in the evolutionary game literature, we assume that the players are...

In symmetric binary-choice coordination games, the global-game selection (GGS) has been proven to predict a high proportion of observed choices correctly. In these games, the GGS is identical to the best response to Laplacian beliefs about the fraction of players choosing either action. This...