Showing 1 - 7 of 7
Many different rules for decision making have been introduced in the literature. We present a single framework in which to study and compare these rules. This is done by defining expected utility with respect to general expectation structures, where a decision maker's beliefs are represented by...
Persistent link: https://www.econbiz.de/10005550890
I consider issues in distributed computation that should be of relevance to game theory. In particular, I focus on (a) representing knowledge and uncertainty, (b) dealing with failures, and (c) specification of mechanisms.
Persistent link: https://www.econbiz.de/10005550928
Many different rules for decision making have been introduced in the literature. We show that a notion of generalized expected utility proposed in 'Great Expectations. Part I' is a universal decision rule, in the sense that it can represent essentially all other decision rules.
Persistent link: https://www.econbiz.de/10005550952
Modica and Rustichini [Theory and Decision 37, 1994] provided a logic for reasoning about knowledge where agents may be unaware of certain propositions. However, their original approach had the unpleasant property that nontrivial unawareness was incompatible with partitional information...
Persistent link: https://www.econbiz.de/10005118557
Aumann has proved that common knowledge of substantive rationality implies the backwards induction solution in games of perfect information. Stalnaker has proved that it does not. Roughly speaking, a player is substantively rational if, for all vertices $v$, if the player were to reach vertex...
Persistent link: https://www.econbiz.de/10005118560
Given a finite game with common payoffs (i.e. the players have completely common interests), we show that the problem of determining whether there exists a joint strategy where each player nets at least k is NP-complete.
Persistent link: https://www.econbiz.de/10005118639
Logical characterizations of the common prior assumption (CPA) are investigated. Two approaches are considered. The first is called frame distinguishability and is similar in spirit to the approaches considered in the economics literature. Results similar to those obtained in the economics...
Persistent link: https://www.econbiz.de/10005118652