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Cataloged Resource Summary

 

Title

Game Theory Course: 4.3: Solution Concepts in Extensive-Form Games

Author

Jim Ratliff

Category

Game Theory

Subject

Extensive-form Games

Type

Article

Description

We define the solution concept of subgame-perfect equilibrium as a refinement of Nash equilibrium that imposes the desired dynamic consistency. A subgame-perfect equilibrium of an extensive-form game is a behavior-strategy profile whose restriction to each subgame is a Nash equilibrium of that subgame.

URL

http://www.virtualperfection.com/gametheory/Section4.3.html

Home URL

http://www.virtualperfection.com/gametheory/index.html
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