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| Title: | | An axiomatization of minimal curb sets  |
| Authors: | | Voorneveld, Mark Kets, Willemien Norde, Henk |
| Issue Date: | | 2005 |
| Series/Report no.: | | SSE/EFI Working Paper Series in Economics and Finance 589 |
| Abstract: | | 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. |
| Subjects: | | Minimal curb sets Consistency |
| JEL: | | C72 |
| Document Type: | | Working Paper |
| Appears in Collections: | | SSE/EFI Working Paper Series in Economics and Finance, EFI - The Economic Research Institute, Stockholm School of Economics
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