Game Theory 101 (#74): Perfect Bayesian Equilibrium

http://gametheory101.com/courses/game... This lecture begins a new unit on sequential games of incomplete information. Perfect Bayesian equilibrium is the gold standard solution concept for these games. This lecture gives the definition and explains where it gets its core components. Future lectures will show PBE in action. Look further down the playlist if you are trying to find an explanation of pooling equilibrium, separating equilibrium, or semi-separating/partially pooling equilibrium.