Introduction The purpose of this lecture is to help you familiarize with the workings of sequential equi- librium and \sequential equilibrium lite, i.e. perfect Bayesian equilibrium. The main focus is the \reputation\ result of Kreps and Wilson(1982). You should refer to OR for details and definitions: I am following the textbook quite closely. of the game in which an incumbent faces a sequence of K (potential) entrants. It is clear that, in the subgame in which the last entrant gets a chance to play, the incumbent will
uniT 8 The Development of Paging System means[mi:nz]n.方法,手段,工具 advantage[ad'wa:nti]n.优势,利益 availability[a' veila' b i t i]n.可用性,可得性 assume[a'sju:m]v.假定,设想 dramatic[dra' mae t i k]a.戏剧的,鲜明的