This paper extends the framework of Kajii and Morris (1997) to study the question of robustness to incomplete information in repeated games. We show that dynamically robust equilibria can be characterized using a one-shot robustness principle that extends the one-shot deviation principle. Using...

In this paper, we present a new multiperiod portfolio selection with maximum absolute deviation model. The investor is assumed to seek an investment strategy to maximize his/her terminal wealth and minimize the risk. One typical feature is that the absolute deviation is employed as risk measure...

It is getting a hard task to precisely express people's life today when people's senses of values have diversified in a short span of several years. In this paper, as a first step, we look at the past research and have a correct recognition of the situation before we make progress in our...

We introduce the class of anti-coordination games. A symmetric two-player game is said to have the anti-coordination property if, for any mixed strategy, any worst response to the mixed strategy is in the support of the mixed strategy. Every anti-coordination game has a unique symmetric Nash...

This paper studies equilibrium selection in supermodular games based on perfect foresight dynamics. A normal form game is played repeatedly in a large society of rational agents. There are frictions: opportunities to revise actions follow independent Poison processes. Each agent forms his belief...

We randomly draw a game from a distribution on the set of two-player games with a given size. We compute the distribution and the expectation of the number of pure-strategy Nash equilibria of the game conditional on the game having nondecreasing best-response functions. The conditional expected...

This paper presents a sufficient condition for the quasi-acyclic condition. A game is quasi-acyclic if from any strategy profile, there exists a finite sequence of strict best replies that ends in a pure strategy Nash equilibrium. The best-reply dynamics must converge to a pure strategy Nash...