• Media type: E-Book; Report
  • Title: An axiomatization of minimal curb sets
  • Contributor: Voorneveld, Mark [Author]; Kets, Willemien [Author]; Norde, Henk [Author]
  • imprint: Stockholm: Stockholm School of Economics, The Economic Research Institute (EFI), 2005
  • Language: English
  • Keywords: Minimal curb sets ; Nichtkooperatives Spiel ; Axiomatisierung ; Consistency ; C72
  • Origination:
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  • Description: Norde et al. [Games Econ. Behav. 12 (1996) 219] proved that none of the equilibrium concepts in the literature on equilibrium selection in finite strategic games satisfying existence is consistent. A transition to set-valued solution concepts overcomes the inconsistency problem: there is a multiplicity of consistent set-valued solution concepts that satisfy nonemptiness and recommend utility maximization in one-player games. The minimal curb sets of Basu and Weibull [Econ. Letters 36 (1991) 141] constitute one such solution concept; they are axiomatized in this article.
  • Access State: Open Access