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Subgame-Perfection in Free Transition Games

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Working paper
Author/s: 
Flesch J., Kuipers J., Schoenmakers G. and Vrieze K.
Issue number: 
RM/11/047
Publisher: 
Maastricht University
Year: 
2011
We prove the existence of a subgame-perfect "-equilibrium, for every " > 0, in a class of multi-player games with perfect information, which we call free transition games. The novelty is that a non-trivial class of perfect information games is solved for subgame- perfection, with multiple non-terminating actions, in which the payo structure is generally not semi-continuous. Due to the lack of semi-continuity, there is no general rule of comparison between the payo s that a player can obtain by deviating a large but nite number of times or, respectively, in nitely many times. We introduce new techniques to overcome this di culty.
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