Game theory | Game theory equilibrium concepts

M equilibrium

M equilibrium is a set valued solution concept in game theory that relaxes the rational choice assumptions of perfect maximization (โ€œno mistakesโ€) and perfect beliefs (โ€œno surprisesโ€). The concept can be applied to any normal-form game with finite and discrete strategies. M equilibrium was first introduced by Jacob K. Goeree and Philippos Louis. (Wikipedia).

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