A NOTE ON THE EQUIVALENCE OF TIME CONSISTENCY AND SUBGAME PERFECTION IN STOCHASTIC GAMES

Authors
ASILIS CM
Citation
Cm. Asilis, A NOTE ON THE EQUIVALENCE OF TIME CONSISTENCY AND SUBGAME PERFECTION IN STOCHASTIC GAMES, European economic review, 39(2), 1995, pp. 245-251
Citations number
6
Categorie Soggetti
Economics
Journal title
European economic review → ACNP
ISSN journal
00142921
Volume
39
Issue
2
Year of publication
1995
Pages
245 - 251
Database
ISI
SICI code
0014-2921(1995)39:2<245:ANOTEO>2.0.ZU;2-X
Abstract
This note examines the relationship between time consistency and subga me perfection for a class of games widely used in economics: stochasti c games. While subgame perfection is a stronger refinement than time c onsistency, equivalence is shown for an important sub-class of games.