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Robust Equilibria In Generic Extensive-Form Games

Author

Listed:
  • Lucas Pahl

    (School of Economics, University of Sheffield, Sheffield S1 4DT, UK)

  • Carlos Pimienta

    (School Of Economics, The University of New South Wales, Sydney, Australia)

Abstract

We prove the 2-player, generic extensive-form case of the conjecture of Govindan and Wilson (1997a,b) and Hauk and Hurkens (2002) stating that an equilibrium component is essential in every equivalent game if and only if the index of the component is nonzero. This provides an index-theoretic characterization of the concept of hyperstable components of equilibria in generic extensive-form games, first formulated by Kohlberg and Mertens (1986). We also illustrate how to compute hyperstable equilibria in multiple economically relevant examples and show how the predictions of hyperstability compare with other solution concepts.

Suggested Citation

  • Lucas Pahl & Carlos Pimienta, 2025. "Robust Equilibria In Generic Extensive-Form Games," Working Papers 2025001, The University of Sheffield, Department of Economics.
    • Handle: RePEc:shf:wpaper:2025001
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    File URL: https://www.sheffield.ac.uk/economics/research/serps
    File Function: First version, January 2025
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    More about this item

    Keywords

    Game Theory; Robustness of Equilibria; Fixed Point Theory; Index Theory;
    All these keywords.

    JEL classification:

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

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