Refinements of the Nash equilibrium concept
@article{Myerson1978RefinementsOT, title={Refinements of the Nash equilibrium concept}, author={Roger B. Myerson}, journal={International Journal of Game Theory}, year={1978}, volume={7}, pages={73-80} }
Selten's concept of perfect equilibrium for normal form games is reviewed, and a new concept of proper equilibrium is defined. It is shown that the proper equilibria form a nonempty subset of the perfect equilibria, which in turn form a subset of the Nash equilibria. An example is given to show that these inclusions may be strict.
373 Citations
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