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 language | English |
---|---|
Pages (from-to) | 191-194 |
Number of pages | 4 |
Journal | Economics Letters |
Volume | 30 |
Issue number | 3 |
DOIs | |
State | Published - Sep 1989 |