THE NEVER-A-WEAK-BEST-RESPONSE TEST IN INFINITE SIGNALING GAMES

This essay considers a strong refinement of the sequential equilibrium concept, the Never-a-Weak-Best-Response test, and identifies conditio ns under which the limit of the equilibrium outcomes of finite approxi mating games is an equilibrium outcome of the limit infinite game. As a consequence of this result, the existence of equilibria in a class o f infinite signaling games is established. Since equilibria satisfying the Never-a-Weak-Best-Response test also satisfy various other refine ments, e.g., the Intuitive Criterion and the Universal Divinity test, the existence results in this essay hold for those refinements as well . Journal of Economic Literature Classification Numbers: C72, D82. (C) 1997 Academic Press.