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On the Strategic Stability of Equilibria

Kohlberg, Elon, Mertens, Jean-Francois·1986·Econometrica

Abstract

A basic problem in the theory of noncooperative games is the following: which Nash equilibria are strategically stable, i.e. self-enforcing, and does every game have a strategically stable equilibrium?We list three conditions which seem necessary for strategic stabilitybackwards induction, iterated dominance, and invariance-and define a set-valued equilibrium concept that satisfies all three of them.We prove that every game has at least one such equilibrium set.Also, we show that the departure from the usual notion of single-valued equilibrium is relatively minor, because the sets reduce to points in all generic games.

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Metadata

Authors
Kohlberg, E., & Mertens, J.-F.
Venue
Econometrica
Publisher
JSTOR
Published
1986-09
Volume
54
Issue
5
Pages
1003
ISSN
0012-9682 (ISSN-L)
OpenAlex
W2130937741
Cited by
1,397
References
0
FWCI
43.56
Type
journal article
Language
en
Open access
closed

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CoChat. (2026). Citation check: On the Strategic Stability of Equilibria. https://app.cochat.ai/papers/10.2307/1912320
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Kohlberg, E., & Mertens, J.-F. (1986). On the Strategic Stability of Equilibria. Econometrica. https://doi.org/10.2307/1912320

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