Showing 1 - 10 of 165
epistemic analysis of the rationalizability concept of Bernheim and Pearce. We analyze in detail the pure strategies and mixed …
Persistent link: https://www.econbiz.de/10011110562
In this note we characterize the strategic implication of intrinsic correlation, introduced by Brandenburger and Friedenberg (2008), in the subjective correlated equilibrium setting of a complete information game. Intrinsic correlation restricts correlation devices to variables within the game,...
Persistent link: https://www.econbiz.de/10005668411
We present an experiment for the study of learning in a complex task which requires both memorisation and the ability to process several pieces of information. The outcome of an action, for which immediate feedback is given, depends on the context (i.e. one of thirty-two sequences of three...
Persistent link: https://www.econbiz.de/10014223185
such models is a non-empty, complete lattice, if, and only if, there is a unique equilibrium. Indeed, for a given parameter … the lattice structure of the equilibrium set do not apply to such models. Moreover, there are no ranked equilibria in such …
Persistent link: https://www.econbiz.de/10012824357
correlated rationalizability for games with incomplete information. We argue that the distinction between this solution concept … and the interim correlated rationalizability studied by Dekel, Fudenberg and Morris (2007) is fundamental, in that the … partially correlated rationalizability if and only if they have the same infinite hierarchy of beliefs over conditional beliefs …
Persistent link: https://www.econbiz.de/10008728075
Markov Perfect Equilibrium (MPE) with weaker conditions such as rational behavior and rationalizability. The identification …
Persistent link: https://www.econbiz.de/10005034988
This paper studies the impact of a small probability event on strategic behavior in incomplete information games with non-common priors. It is shown that the global impact of a small probability event (i.e., its propensity to affect strategic behavior at all states in the state space) has an...
Persistent link: https://www.econbiz.de/10005837461
uniqueness results and allow to study rationalizability in new environments. We provide applications to supermodular mechanism …
Persistent link: https://www.econbiz.de/10009422003
The development of a reliable procedure for the aggregation of individual level happiness leads to a proper … order that aggregation is not problematic and the resulting measure not only makes sense but also useful for group level …
Persistent link: https://www.econbiz.de/10011107585
This paper studies the aggregate substitution and expansion effects triggered by changes in input prices in a context where firms supply a homogeneous commodity and compete in quantities à la Cournot. We derive a sufficient condition for the existence of a Cournot equilibrium and show that this...
Persistent link: https://www.econbiz.de/10011107774