The New Palgrave Dictionary of Economics

2018 Edition
| Editors: Macmillan Publishers Ltd

Large Games (Structural Robustness)

  • Ehud Kalai
Reference work entry
DOI: https://doi.org/10.1057/978-1-349-95189-5_2421

Abstract

In strategic games with many semi-anonymous players all the equilibria are structurally robust. The equilibria survive under structural alterations of the rules of the game and its information structure, even when the game is embedded in bigger games. Structural robustness implies ex post Nash conditions and a stronger condition of information-proofness. It also implies fast learning, self-purification and strong rational expectations in market games. Structurally robust equilibria may be used to model games with highly unspecified structures, such as games played on the web.

Keywords

Herding Large games Mixed-strategy equilibrium Pure-strategy equilibrium Purification Rational expectations equilibrium Structural robustness 

JEL Classifications

C7 
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Copyright information

© Macmillan Publishers Ltd. 2018

Authors and Affiliations

  • Ehud Kalai
    • 1
  1. 1.