We found a match
Your institution may have access to this item. Find your institution then sign in to continue.
- Title
EQUILIBRIA IN EXTENSIVE GAMES.
- Authors
Binmore, K. G.
- Abstract
The article discusses the fundamental difficulties which exist in the foundations of the theory of extensive form games. Two methodological points are made. The first point states that the problems in justifying the use of various equilibrium ideas can be traced to a considerable degree to the fact that the game structure has been over-abstracted. The second point, which arises from the first, states that the act of fixing attention on a model of the mechanism by means of which the equilibrium is thought to be achieved, forces one to take into account the possibility that the type of equilibrium to be used will be a function of the equilibrium mechanism operating in the environment under study.
- Subjects
EQUILIBRIUM; STABILITY (Mechanics); GAMES; MATHEMATICAL models; BIOCHEMICAL mechanism of action; PHYSICS
- Publication
Economic Journal, 1985, Vol 95, p51
- ISSN
0013-0133
- Publication type
Article
- DOI
10.2307/2232869