Axiomatic Equilibrium Selection: The Case of Generic Extensive Form Games
Abstract
A solution concept that is a refinement of Nash equilibria selects for each finite game a nonempty collection of closed and connected subsets of Nash equilibria as solutions. We impose three axioms for such solution concepts. The axiom of backward induction requires each solution to contain a quasi-perfect equilibrium. Two invariance axioms posit that solutions of a game are the same as those of a game obtained by the addition of strategically irrelevant strategies and players. Stability satisfies these axioms; and any solution concept that satisfies them must, for generic extensive-form games, select from among its stable outcomes. A strengthening of the two invariance axioms provides an analogous axiomatization of components of equilibria with a nonzero index.
Cite
@article{arxiv.2504.16908,
title = {Axiomatic Equilibrium Selection: The Case of Generic Extensive Form Games},
author = {Srihari Govindan and Robert B. Wilson},
journal= {arXiv preprint arXiv:2504.16908},
year = {2025}
}