Consistent conjectures equilibria: A reformulation showing non-uniqueness

We interpret both Bresnahan's original (1981) definition of consistent conjectures equilibria and his generalized (1983) definition as dominant strategy equilibria in reaction functions. We employ a simple constructive argument to show that every outcome satisfies the generalized definition.

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Bibliographische Detailangaben
Veröffentlicht in:	Economics letters 1988, Vol.27 (2), p.111-115
Hauptverfasser:	Klemperer, Paul D., Meyer, Margaret A.
Format:	Artikel
Sprache:	eng
Online-Zugang:	Volltext
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Beschreibung
Zusammenfassung:	We interpret both Bresnahan's original (1981) definition of consistent conjectures equilibria and his generalized (1983) definition as dominant strategy equilibria in reaction functions. We employ a simple constructive argument to show that every outcome satisfies the generalized definition.
ISSN:	0165-1765 1873-7374
DOI:	10.1016/0165-1765(88)90081-X