Publisher's Synopsis
Excerpt from Imperfect Equilibrium: February 1990
In the proposed approach, the game model is extended to include a specification of the players' abilities to implement their desired strategies. Each player is endowed with a personal behavior pattern, termed his performance function, under which the action that he takes depends stochastically on (i) the target strategy that he would rationally like to adopt, and (ii) the potential consequences that can accrue to him from each of his feasible strategies. Our analysis assumes that the players will be careful to avoid the costlier deviations from optimal behavior more than the relatively trivial ones (this is very much in the spirit of Myerson's proper equilibrium.
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