Minimum memory for equivalence between ex-ante optimality and time-consistencyBond Business School Publications
Date of this Version3-21-2001
Document TypeWorking Paper
AbstractWe give a necessary and sufficient condition on memory of a player in an extensive game for equivalence between ex ante optimality and time- consistency (for all payoff assignments). The condition is called A-loss recall and requires that each loss of a player's memory can be traced back to some loss of memory of his own action. A-loss recall is also shown to be a necessary and sufficient condition for the existence of a time- consistent strategy (for all payoff assignments) if the player is conscious- minded.
Citation InformationJeffrey J. Kline. "Minimum memory for equivalence between ex-ante optimality and time-consistency" (2001)
Available at: http://works.bepress.com/jeffrey_kline/6/