Fixed rules and decision rules. Time consistency and subgame perfection

Research output: Contribution to journalArticlepeer-review

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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