Weak Perfect Bayesian Equilibrium is a refinement of Bayesian Nash Equilibrium that combines the concepts of beliefs, strategies, and updating in a dynamic game context. It requires players to have consistent beliefs about the state of the game and to update these beliefs according to Bayes' rule, even when faced with off-path actions. This equilibrium concept helps in analyzing situations where players may have incomplete information, ensuring that their strategies are not only optimal given their beliefs but also robust against deviations by other players.
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