Professor Sun Xiang's Research on Robust Perfect Equilibrium in Large Games Has Achieved New Results

The paperRobust perfect equilibrium in large gamesby Professor Sun Xiang from the School of Economics and Management was recently published in the Journal of Economic Theory, an international first-class journal in the field of theoretical economics.

This paper proposes a new equilibrium concept "robust perfect equilibrium" in view of the drawbacks of Nash equilibrium in non-cooperative games with super-large players. This concept of equilibrium advances the theoretical study of large games, reinforcing a series of equilibrium outcomes widely used in the literature.

The paper is a phased achievement of the National Natural Science Foundation of China Excellent Youth Project "Non-cooperative Game" hosted by Sun Xiang. It was completed by Sun Xiang and Professor Chen Enxian from Nankai University, Professor Qiao Lei from Shanghai University of Finance and Economics, and Professor Sun Yeneng from the National University of Singapore. Journal of Economic Theory is an international first-class journal of economics and a class A award journal of the School of Economics and Management of Wuhan University.

Sun Xiang is the deputy dean of the School of Economics and Management and a teacher of the Department of Mathematical Economics and Mathematical Finance. In recent years, he has been focusing on basic theories such as game theory and mechanism design, and his results have been published in Journal of Economic Theory, Theoretical Economics, Games and Economic Behavior, Advances in Mathematics, Journal of Economic Behavior & Organization, Economic Theory and other world-class academic journals.

Paper link: https://doi.org/10.1016/j.jet.2022.105433