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The consistency principle for set-valued solutions and a new direction for normative game theory

Author

Listed:
  • Martin Dufwenberg
  • Henk Norde
  • Hans Reijnierse
  • Stef Tijs

Abstract

We extend the consistency principle for strategic games (Peleg and Tijs (1996)) to apply to solutions which assign to each game a collection of product sets of strategies. Such solutions turn out to satisfy desirable properties that solutions assigning to each game a collection of strategy profiles lack. Our findings lead us to propose a new direction for normative game theory. Copyright Springer-Verlag Berlin Heidelberg 2001

Suggested Citation

  • Martin Dufwenberg & Henk Norde & Hans Reijnierse & Stef Tijs, 2001. "The consistency principle for set-valued solutions and a new direction for normative game theory," Mathematical Methods of Operations Research, Springer;Gesellschaft für Operations Research (GOR);Nederlands Genootschap voor Besliskunde (NGB), vol. 54(1), pages 119-131, October.
    • Handle: RePEc:spr:mathme:v:54:y:2001:i:1:p:119-131
    DOI: 10.1007/s001860100154
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    Citations

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    Cited by:

    1. Siegfried Berninghaus & Werner G³th & Hartmut Kliemt, 2003. "Reflections on Equilibrium: Ideal Rationality and Analytic Decomposition of Games," Homo Oeconomicus, Institute of SocioEconomics, vol. 20, pages 257-302.
    2. Voorneveld, Mark, 2002. "Preparation and toolkit learning," SSE/EFI Working Paper Series in Economics and Finance 485, Stockholm School of Economics.
    3. Mark Voorneveld & Willemien Kets & Henk Norde, 2006. "An Axiomatization of Minimal Curb Sets," International Journal of Game Theory, Springer;Game Theory Society, vol. 34(1), pages 153-153, April.
    4. Mosquera, M.A. & Borm, P. & Fiestras-Janeiro, M.G. & García-Jurado, I. & Voorneveld, M., 2008. "Characterizing cautious choice," Mathematical Social Sciences, Elsevier, vol. 55(2), pages 143-155, March.
    5. Voorneveld, Mark, 2004. "Preparation," Games and Economic Behavior, Elsevier, vol. 48(2), pages 403-414, August.
    6. Werner Güth, 2002. "On the Inconsistency of Equilibrium Refinement," Theory and Decision, Springer, vol. 53(4), pages 371-392, December.
    7. Norman, Thomas W.L., 2008. "Dynamically stable sets in infinite strategy spaces," Games and Economic Behavior, Elsevier, vol. 62(2), pages 610-627, March.
    8. Kets, W., 2008. "Networks and learning in game theory," Other publications TiSEM 7713fce1-3131-498c-8c6f-3, Tilburg University, School of Economics and Management.

    More about this item

    Keywords

    Key words: Consistency; set-valued solution; normative game theory; self-enforcing recommendation;
    All these keywords.

    JEL classification:

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

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