Preparation |
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Authors: | Mark Voorneveld |
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Institution: | Department of Economics, Stockholm School of Economics, Box 6501, 113 83, Stockholm, Sweden |
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Abstract: | A product set of pure strategies is a prep set (‘prep’ is short for ‘preparation’) if it contains at least one best reply to any consistent belief that a player may have about the strategic behavior of his opponents. Minimal prep sets are shown to exist in a class of strategic games satisfying minor topological conditions. The concept of minimal prep sets is compared with (pure and mixed) Nash equilibria, rationalizability, minimal curb sets, and persistent retracts. |
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Keywords: | Preparation Minimal prep set Set-valued solution concept |
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