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Dynamic unawareness and rationalizable behavior

Heifetz, Aviad; Meier, Martin; Schipper, Burkhard C. - In: Games and Economic Behavior 81 (2013) C, pp. 50-68

We define generalized extensive-form games which allow for asymmetric awareness of actions. We extend Pearceʼs (1984) notion of extensive-form (correlated) rationalizability to this setting, explore its properties, and prove existence.

Persistent link: https://www.econbiz.de/10011049860

A structure theorem for rationalizability in the normal form of dynamic games

Chen, Yi-Chun - In: Games and Economic Behavior 75 (2012) 2, pp. 587-597

We prove that the structure theorem for rationalizability originally from Weinstein and Yildiz (2007) applies to any finite extensive-form game with perfect recall and suitably rich payoffs. We demonstrate that the ties induced by the extensive form do not change the result of Weinstein and...

Persistent link: https://www.econbiz.de/10011049820

Unawareness, beliefs, and speculative trade

Heifetz, Aviad; Meier, Martin; Schipper, Burkhard C. - In: Games and Economic Behavior 77 (2013) 1, pp. 100-121

We define a generalized state-space model with interactive unawareness and probabilistic beliefs. Such models are … desirable for potential applications of asymmetric unawareness. Applying our unawareness belief structures, we show that the …

Persistent link: https://www.econbiz.de/10011049829

Social norms and trust among strangers

Xie, Huan; Lee, Yong-Ju - In: Games and Economic Behavior 76 (2012) 2, pp. 548-555

We study the development of a social norm of trust and reciprocity among a group of strangers via the “contagious strategy” as defined in Kandori (1992). Over an infinite horizon, the players anonymously and randomly meet each other and play a binary trust game. In order to provide the...

Persistent link: https://www.econbiz.de/10011049814

Communication in repeated network games with imperfect monitoring

Laclau, M. - In: Games and Economic Behavior 87 (2014) C, pp. 136-160

: communication can be public, private or a mixture of both. Payoffs are assumed to be sensitive to unilateral deviations. First, for …

Persistent link: https://www.econbiz.de/10010931179

Stability and trembles in extensive-form games

Heller, Yuval - In: Games and Economic Behavior 84 (2014) C, pp. 132-136

A leading solution concept in the evolutionary study of extensive-form games is Selten (1983) notion of limit ESS. This note demonstrates that a limit ESS does not imply neutral stability, and that it may be dynamically unstable (almost any small perturbation takes the population away). These...

Persistent link: https://www.econbiz.de/10011049840

Shaping beliefs in experimental markets for expert services: Guilt aversion and the impact of promises and money-burning options

Beck, Adrian; Kerschbamer, Rudolf; Qiu, Jianying; … - In: Games and Economic Behavior 81 (2013) C, pp. 145-164

In a credence goods game with an expert and a consumer, we study experimentally the impact of two devices that are predicted to induce consumer-friendly behavior if the expert has a propensity to feel guilty when he believes that he violates the consumerʼs payoff expectations: (i) an...

Persistent link: https://www.econbiz.de/10011049695

Outcome-equivalence of self-confirming equilibrium and Nash equilibrium

Shimoji, Makoto - In: Games and Economic Behavior 75 (2012) 1, pp. 441-447

We introduce a condition, Nash-equivalent self-confirming equilibrium. If beliefs are assumed to be independent and unitary, Nash-equivalent self-confirming equilibrium and Nash equilibrium are outcome-equivalent. We show that the set of Nash-equivalent self-confirming equilibria and the set of...

Persistent link: https://www.econbiz.de/10010573648

Universal type structures with unawareness

Heinsalu, Sander - In: Games and Economic Behavior 83 (2014) C, pp. 255-266

Infinite hierarchies of awareness and beliefs arise in games with unawareness, similarly to belief hierarchies in … structure with unawareness where each type has an awareness level and a belief over types. Countable hierarchies are therefore … sufficient to describe all uncertainty in games with unawareness. …

Persistent link: https://www.econbiz.de/10011049778

The effect of environmental uncertainty on the tragedy of the commons

Aflaki, Sam - In: Games and Economic Behavior 82 (2013) C, pp. 240-253

We model a common pool resource game under environmental uncertainty, where individuals in a symmetric group face the dilemma of sharing a common resource. Each player chooses a consumption level and obtains a corresponding share of that resource, but if total consumption exceeds a sustainable...

Persistent link: https://www.econbiz.de/10011049848