Recently, the Journal of Economic Theory, a top international journal in the field of theoretical economics, published a paper entitled "Robust perfect equilibrium in large games" by SUN Xiang, who is a professor from the School of Economics and Management at Wuhan University.
In this paper, Sun and co-authors introduce a new equilibrium concept, "robust perfect equilibrium", for non-cooperative games with a continuum of players, incorporating three types of perturbations. Such an equilibrium is shown to exist (in symmetric mixed strategies and also in pure strategies) and satisfies the important properties of admissibility, aggregate robustness, and ex post robust perfection. These properties strengthen relevant equilibrium results in an extensive literature on strategic interactions among a large number of agents.
This work was co-authored by CHEN Enxian from Nankai University, QIAO Lei from Shanghai University of Finance and Economics, and SUN Yeneng from the National University of Singapore. It was partially supported by the NSFC for Excellent Youth Scholars "Non-cooperative Game". The Journal of Economic Theory, published by Elsevier, is a world-class economic journal.
SUN Xiang is a professor from the School of Economics and Management. In recent years, he has been focusing his research on game theory, and his works have been published in the Journal of Economic Theory, Theoretical Economics, Games and Economic Behavior, Advances in Mathematics, Journal of Economic Behavior & Organization, Economic Theory and other international top journals.
Link to the paper: https://doi.org/10.1016/j.jet.2022.105433
Rewritten by Luo Yu
Photo by Luo Yu
Editied by Sylvia and Xi Bingqing
