Fall back proper equilibrium

Fall back proper equilibrium

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Article ID: iaor20172947
Volume: 25
Issue: 2
Start Page Number: 402
End Page Number: 412
Publication Date: Jul 2017
Journal: TOP
Authors: ,
Keywords: literature survey, Nash equilibrium
Abstract:

Proper equilibrium plays a prominent role in the literature on non‐cooperative games. The underlying thought experiment in which the players play a passive role is, however, unsatisfying, as it gives no justification for its fundamental idea that severe mistakes are made with a significantly smaller probability than innocuous ones. In this paper, we introduce a more active role for the players, leading to the refinement of fall back proper equilibrium.

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