The Existence of Subgame-Perfect Equilibrium in Continuous Games with Almost Perfect Information: A Case for Public Randomization
通过一个简单动态博弈的例子，说明子博弈完美均衡可能不存在，但引入公共随机化设备后存在性得以恢复，并证明该结论适用于一大类动态博弈。
The starting point of this paper is a simple, regular dynamic game in which subgame-perfect equilibrium fails to exist. Examination of this example shows that existence would be restored if players were allowed to observe the output of a public-randomization device. The main result of the paper shows that the introduction of public randomization yields existence not only in the example, but also in a large class of dynamic games. It is also argued that the introduction of public randomization is the minimal robust extension of subgame-perfect equilibrium in this class of games.