I am slightly confused as to what the difference between Subgame Perfect Equilibrium and Subgame Perfect Nash Equilibrium is.
I was told there is a difference, but now I found many lecture notes that use the terms as substitutes.
Thank you!
I am slightly confused as to what the difference between Subgame Perfect Equilibrium and Subgame Perfect Nash Equilibrium is.
I was told there is a difference, but now I found many lecture notes that use the terms as substitutes.
Thank you!
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The two terms, SPE and SPNE, refer to exactly the same equilibrium concept in game theory, i.e. a strategy profile that induces a NE in every subgame.
On Wikipedia: