6 documents found

As far as we know, the identiifcation of all Nash paths for dynamic games has not been treated intensively. The reason seems to be that subgame perfect equilibrium is broadly accepted as an expedient solution concept, which is on top of that easy to handle. Any other equilibrium concept is sometimes…

We introduce a concept of equilibrium for dynamic games, which reflects risk-aversion for the agents playing the game. We assume given preferences for the agents rather than utility functions and allow the formation of coalitions. It turns out that risk-averse behavior is generally not covered by subgame…

The broadly accepted equilibrium concept for non-cooperative games in extensive form draws on subgame perfectness. Existence of such an equilibrium is assured under weak assumptions. But in most situations many other Nash Equilibria may exist. Hence, there must be some tacit agreement of groups of players,…