We examine the evolutionary foundations of common equilibrium refinement ideas for extensive form games, such as backward and forward induction, by examining the limiting outcome of an evolutionary process driven by stochastic learning and (rare) mutations. We show that the limiting outcome in a...

This paper introduces a class of signalling games with response intersection to discuss the informational efficiency of a monopolistic financial market. For these games a necessary and sufficient condition for the existence of a fully revealing sequential equilibrium outcomes is derived....