Fixed rules and decision rules. Time consistency and subgame perfection

Chaim Fershtman*

*Corresponding author for this work

Research output: Contribution to journalArticlepeer-review

12 Scopus citations

Abstract

The paper investigates the relationship between time consistency and subgame perfection. We show that despite some suggestions in the literature, the two are not equivalent. Subgame perfection is a stronger refinement. The paper also discusses the classes of games in which time consistency and subgame perfection are equivalent.

Original languageEnglish
Pages (from-to)191-194
Number of pages4
JournalEconomics Letters
Volume30
Issue number3
DOIs
StatePublished - Sep 1989

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