Access

You are not currently logged in.

Access your personal account or get JSTOR access through your library or other institution:

login

Log in to your personal account or through your institution.

If You Use a Screen Reader

This content is available through Read Online (Free) program, which relies on page scans. Since scans are not currently available to screen readers, please contact JSTOR User Support for access. We'll provide a PDF copy for your screen reader.

Sequential Equilibria

David M. Kreps and Robert Wilson
Econometrica
Vol. 50, No. 4 (Jul., 1982), pp. 863-894
Published by: The Econometric Society
DOI: 10.2307/1912767
Stable URL: http://www.jstor.org/stable/1912767
Page Count: 32
  • Read Online (Free)
  • Download ($10.00)
  • Subscribe ($19.50)
  • Cite this Item
Since scans are not currently available to screen readers, please contact JSTOR User Support for access. We'll provide a PDF copy for your screen reader.
Sequential Equilibria
Preview not available

Abstract

We propose a new criterion for equilibria of extensive games, in the spirit of Selten's perfectness criteria. This criterion requires that players' strategies be sequentially rational: Every decision must be part of an optimal strategy for the remainder of the game. This entails specification of players' beliefs concerning how the game has evolved for each information set, including informaiton sets off the equilibrium path. The properties of sequential equilibria are developed; in particular, we study the topological structure of the set of sequential equilibria. The connections with Selten's trembling-hand perfect equilibria are given.

Page Thumbnails

  • Thumbnail: Page 
863
    863
  • Thumbnail: Page 
864
    864
  • Thumbnail: Page 
865
    865
  • Thumbnail: Page 
866
    866
  • Thumbnail: Page 
867
    867
  • Thumbnail: Page 
868
    868
  • Thumbnail: Page 
869
    869
  • Thumbnail: Page 
870
    870
  • Thumbnail: Page 
871
    871
  • Thumbnail: Page 
872
    872
  • Thumbnail: Page 
873
    873
  • Thumbnail: Page 
874
    874
  • Thumbnail: Page 
875
    875
  • Thumbnail: Page 
876
    876
  • Thumbnail: Page 
877
    877
  • Thumbnail: Page 
878
    878
  • Thumbnail: Page 
879
    879
  • Thumbnail: Page 
880
    880
  • Thumbnail: Page 
881
    881
  • Thumbnail: Page 
882
    882
  • Thumbnail: Page 
883
    883
  • Thumbnail: Page 
884
    884
  • Thumbnail: Page 
885
    885
  • Thumbnail: Page 
886
    886
  • Thumbnail: Page 
887
    887
  • Thumbnail: Page 
888
    888
  • Thumbnail: Page 
889
    889
  • Thumbnail: Page 
890
    890
  • Thumbnail: Page 
891
    891
  • Thumbnail: Page 
892
    892
  • Thumbnail: Page 
893
    893
  • Thumbnail: Page 
894
    894