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This paper provides a self-contained definition and a characterization of the class of extensive form games that are adequate for applications, but still do not employ any finiteness assumptions. In spite of its simplicity, the resulting definition is more general than the classical ones....
Persistent link: https://www.econbiz.de/10010993587
In a Bayesian assessment, beliefs are computed from the strategy profile applying Bayes rule at positive probability information sets. A consistent assessment is the limit point of a sequence of completely mixed Bayesian assessments. We characterize the set of extensive forms for which the sets...
Persistent link: https://www.econbiz.de/10010758631
whether a natural definition of a tree can be given, where nodes are sets of states. We show that, indeed, trees can be …
Persistent link: https://www.econbiz.de/10005370761
Many economic problems can be formulated as dynamic games in which strategically interacting agents choose actions that determine the current and future levels of a single capital stock. We study necessary as well as sufficient conditions that allow us to characterise Markov perfect Nash...
Persistent link: https://www.econbiz.de/10010949490