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Strongly rational sets for normal-form games

Author

Listed:
  • Gilles Grandjean

    (Saint-Louis University)

  • Ana Mauleon

    (Saint-Louis University
    University of Louvain)

  • Vincent Vannetelbosch

    (University of Louvain)

Abstract

We introduce the concept of minimal strong curb sets which is a set-theoretic coarsening of the notion of strong Nash equilibrium. Strong curb sets are product sets of pure strategies such that each player’s set of recommended strategies contains all actions she may rationally select in every coalition she might belong to, for any belief each coalition member may have that is consistent with the recommendations to the other players. Minimal strong curb sets are shown to exist and are compared with other well-known solution concepts. We provide a dynamic learning process leading the players to play strategies from a minimal strong curb set only.

Suggested Citation

  • Gilles Grandjean & Ana Mauleon & Vincent Vannetelbosch, 2017. "Strongly rational sets for normal-form games," Economic Theory Bulletin, Springer;Society for the Advancement of Economic Theory (SAET), vol. 5(1), pages 35-46, April.
    • Handle: RePEc:spr:etbull:v:5:y:2017:i:1:d:10.1007_s40505-016-0095-y
    DOI: 10.1007/s40505-016-0095-y
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    References listed on IDEAS

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    More about this item

    Keywords

    Set-valued solution concept; Strong Nash equilibrium; Coalition; Strong curb set; Learning;
    All these keywords.

    JEL classification:

    • C70 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - General
    • C72 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Noncooperative Games

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