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This paper provides an example showing that for finite extensive form games without perfect recall existence of Nash equilibria in behaviour strategies is not guaranteed in general.
Persistent link: https://www.econbiz.de/10005413655
This paper proposes a bounded rationality approach to model equilibrium play in games. It is based on the observation that decision makers often do not seem to fully distinguish between different but seemingly similar decisions and tend to treat such similar decisions in a standardised/habitual...
Persistent link: https://www.econbiz.de/10008865835
This paper reconsiders the valuation equilibrium concept (Jehiel and Samet, 2007) and proposes an additional regularity condition concerning the playersʼ equilibrium strategies. The condition, which requires equilibrium strategies to induce the same local behaviour at all nodes with...
Persistent link: https://www.econbiz.de/10011049752