Scandinavian Working Papers in Economics

SSE/EFI Working Paper Series in Economics and Finance,
Stockholm School of Economics

No 722: Finding all minimal CURB sets

Max Klimm () and Jörgen Weibull ()
Additional contact information
Max Klimm: Technische Universität Berlin, Postal: Straße des 17. Juni 135, 10623 Berlin, Germany
Jörgen Weibull: Dept. of Economics, Stockholm School of Economics, Postal: Stockholm School of Economics, P.O. Box 6501, SE-113 83 Stockholm, Sweden

Abstract: Sets closed under rational behavior were introduced by Basu and Weibull (1991) as subsets of the strategy space that contain all best replies to all strategy profiles in the set. We here consider a more restrictive notion of closure under rational behavior: a subset of the strategy space is strongly closed under rational behavior, or sCURB, if it contains all best replies to all probabilistic beliefs over the set. We present an algorithm that computes all minimal sCURB sets in any given finite game. Runtime measurements on two-player games (where the concepts of CURB and sCURB coincide) show that the algorithm is considerably faster than the earlier developed algorithm, that of Benisch et al. (2006).

Keywords: curb sets; rational behavior; rationalizability; minimality

JEL-codes: C02; C62; C63; C72

20 pages, July 1, 2009

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