Econometrica Vol. 59 No. 1 1991
Lexicographic Probabilities and Equilibrium Refinements
Abstract
This paper develops a decision-theoretic approach to normal-form refinements of Nash equilibrium and provides characterizations of (normal-form) perfect equilibrium and proper equilibrium. The approach relies on a theory of single-person decision-making that is a non-Archimedean version of subjective expected utility theory.
- DOI
- 10.2307/2938241
- Volume
- 59
- Issue
- 1
- Pages
- 81
- Sources
- bibtex:phds-export.bib crossref openalex