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handle: 10016/6150
By a player splitting we mean a mechanism that distributes the information sets of a player among so-called agents. A player splitting is called independent if each path in the game tree contains at most one agent of every player. Following Mertens (1989), a solution is said to have the player splitting property if, roughly speaking, the solution of an extensive form game does not change by applying independent player splittings. We show that Nash equilibria, perfect equilibria, Kohlberg-Mertens stable sets and Mertens stable sets have the player splitting property. An example is given to show that the proper equilibrium concepts does not satisfy the player splitting property. Next, we give a definition of invariance under (general) player splittings which is an extension of the player splitting property to the situation where we also allow for dependent player splittings. We come to the conclusion that none of the solutions above are invariant under any dependent player splitting. The results are used to give several characterizations of the class of independent player splittings and the class of single appearance structures by means of invariance of solution concepts under player splittings.
Extensive form games, Extensive form games, equilibrium refinements, player splitting., Invariance, Player spliting, Games in extensive form, Economía, jel: jel:C72
Extensive form games, Extensive form games, equilibrium refinements, player splitting., Invariance, Player spliting, Games in extensive form, Economía, jel: jel:C72
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