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Trees and extensive forms
Authors:Carlos Alós-Ferrer  Klaus Ritzberger
Institution:a University of Konstanz, Department of Economics, Box 150, D-78457 Konstanz, Germany
b Vienna Graduate School of Finance and Institute for Advanced Studies, Department of Economics and Finance, Stumpergasse 56, A-1060 Vienna, Austria
Abstract:This paper addresses the question of what it takes to obtain a well-defined extensive form game. Without relying on simplifying finiteness or discreteness assumptions, we characterize the class of game trees for which all pure strategy combinations induce unique outcomes. The generality of the set-up covers “exotic” cases, like stochastic games or decision problems in continuous time (differential games). We find that the latter class, though a well-defined problem, fails this test.
Keywords:C72  D70
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