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- W2040897362 abstract "Gul and Pearce argue that forward induction has much less power as an equilibrium refinement than is generally supposed. The present comment raises the issue: What does admissibility imply for Gul and Pearce's analysis? In a key example, the precise equilibrium constructed by Gul and Pearce depends on a strategy which is not admissible. Even ifallequilibria are considered, it is not possible to preserve the Gul and Pearce results under admissibility.Journal of Economic LiteratureClassification Number: C72." @default.
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- W2040897362 date "1998-10-01" @default.
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- W2040897362 title "Forward Induction, Public Randomization, and Admissibility" @default.
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- W2040897362 doi "https://doi.org/10.1006/jeth.1997.2443" @default.
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