Question

Explain the concept of a perfect bayesian equilibrium

Answer 1

a Perfect Bayesian Equilibrium (PBE) is an equilibrium conceptrelevant for dynamic games with incomplete information (sequential Bayesian games). ... Formally, a belief system is an assignment of probabilities to every node in the game such that the sum of probabilities in any information set is 1.

Answer 2

$\huge\red{Answer}$

In game theory, a Perfect Bayesian Equilibrium (PBE) is an equilibrium concept relevant for dynamic games with incomplete information (sequential Bayesian games). Formally, a belief system is an assignment of probabilities to every node in the game such that the sum of probabilities in any information set is 1.

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