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About: Markov perfect equilibrium     Goto   Sponge   NotDistinct   Permalink

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Type: yago:WikicatNon-cooperativeGamesyago:Abstraction100002137yago:Attribute100024264yago:Contest107456188yago:Equilibrium113934900yago:Event100029378yago:Game100456199yago:PsychologicalFeature100023100yago:YagoPermanentlyLocatedEntityyago:Situation113927383yago:SocialEvent107288639yago:State100024720 New Facet based on Instances of this Class

A Markov perfect equilibrium is an equilibrium concept in game theory. It has been used in analyses of industrial organization, macroeconomics, and political economy. It is a refinement of the concept of subgame perfect equilibrium to extensive form games for which a pay-off relevant state space can be identified. The term appeared in publications starting about 1988 in the work of economists Jean Tirole and Eric Maskin.