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This paper provides two conditions of epistemic robustness, robustness to alternative best replies and robustness to non-best replies, and uses them to characterize variants of curb sets in finite games, including the set of rationalizable strategies.
Persistent link: https://www.econbiz.de/10010281186
A product set of pure strategies is a prep set (prep is short for preparation) if it contains at least one best reply to any consistent belief that a player may have about the strategic behavior of his opponents. Minimal prep sets are shown to exists in a class of strategic games satisfying...
Persistent link: https://www.econbiz.de/10010281296
In a large family of solution concepts for boundedly rational players - allowing players to be imperfect optimizers, but requiring that better responses are chosen with probabilities at least as high as those of worse responses - most of Thompson's inessential transformations for the strategic...
Persistent link: https://www.econbiz.de/10010281206
In classical game theory, players have finitely many actions and evaluate outcomes of mixed strategies using a von Neumann-Morgenstern utility function. Allowing a larger, but countable, player set introduces a host of phenomena that are impossible in finite games. Firstly, in coordination...
Persistent link: https://www.econbiz.de/10010281392