TY - JOUR
T1 - The good, the bad, and the ugly
T2 - Coalition proof equilibrium in infinite games
AU - Kahn, Charles M.
AU - Mookherjee, Dilip
N1 - Funding Information:
* We thank Carlos Asilis, Joseph Greenberg, Bentley MacLeod, Alvin Roth, William Thomson, and an anonymous referee for useful comments, as well as participants at the summer game theory conferences at Ohio State, 1988 and 1989. This work was funded by NSF Grant SES-8821723.
PY - 1992/1
Y1 - 1992/1
N2 - This paper provides techniques for using stable sets to characterize equilibria in infinite games. We demonstrate the techniques by extending the definition of Coalition Proof Nash Equilibrium. Our new definition reduces to the recursive definition of Bernheim, Peleg, and Whinston in games with a finite number of players and a finite strategy space. Unlike the old characterization, our new one maintains an equivalence between a recursive definition and a nonrecursive characterization when strategy spaces are infinite. Examples are used to demonstrate the advantages and relative simplicity of the new definition, even for games with infinite numbers of agents. Journal of Economic Literature Classification Number: 026.
AB - This paper provides techniques for using stable sets to characterize equilibria in infinite games. We demonstrate the techniques by extending the definition of Coalition Proof Nash Equilibrium. Our new definition reduces to the recursive definition of Bernheim, Peleg, and Whinston in games with a finite number of players and a finite strategy space. Unlike the old characterization, our new one maintains an equivalence between a recursive definition and a nonrecursive characterization when strategy spaces are infinite. Examples are used to demonstrate the advantages and relative simplicity of the new definition, even for games with infinite numbers of agents. Journal of Economic Literature Classification Number: 026.
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U2 - 10.1016/0899-8256(92)90007-F
DO - 10.1016/0899-8256(92)90007-F
M3 - Article
AN - SCOPUS:38249014765
SN - 0899-8256
VL - 4
SP - 101
EP - 121
JO - Games and Economic Behavior
JF - Games and Economic Behavior
IS - 1
ER -