P-stable Equilibrium: Definition and Some Properties
نویسندگان
چکیده
We de...ne a -stable equilibrium as an equilibrium that is the unique outcome compatible with common knowledge of rationality and common knowledge of-belief in the equilibrium (belief putting probability at least p on the equilibrium). 1-stability means Nash, 0-stability means a unique rationalizable outcome. We show that, in a large class of games, an equilibrium is -stable for some 1. Thus, is an index for strategic stability (or robustness against strategic uncertainty). In a game where the best-response map is linear in the mean action, we show that adding incomplete and asymmetric information on the fundamentals increases strategic stability.
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