Showing 1 - 10 of 20
Heifetz, Meier and Schipper (2005) introduced a generalized state-space model that allows for non-trivial unawareness among several individuals and strong properties of knowledge. We show that this generalized state-space model arises naturally if states consist of maximally consistent sets of...
Persistent link: https://www.econbiz.de/10008620333
We generalize the ``No-speculative-trade" theorem for finite unawareness belief structures in Heifetz, Meier, and Schipper (2013) to the infinite case.
Persistent link: https://www.econbiz.de/10008620348
In this paper we compare two different approaches to modeling unawareness: the object-based approach of Board and Chung (2007) and the subjective-state-space approach of Heifetz, Meier and Schipper (2006).
Persistent link: https://www.econbiz.de/10008620350
We define a generalized state-space model with interactive unawareness and probabilistic beliefs. Such models are desirable for potential applications of asymmetric unawareness. We compare unawareness with probability zero belief. Applying our unawareness belief structures, we show that the...
Persistent link: https://www.econbiz.de/10008620363
We report on an experiment in which subjects choose actions in strategic games with either strategic complements or substitutes against a granny, a game theorist or other subjects. The games are selected in order to test predictions on the comparative statics of equilibrium with respect to...
Persistent link: https://www.econbiz.de/10008620366
We define a generalized state-space model with interactive unawareness and probabilistic beliefs. Such models are desirable for many potential applications of asymmetric unawareness. We develop Bayesian games with unawareness, define equilibrium, and prove existence. We show how equilibria are...
Persistent link: https://www.econbiz.de/10008620382
The temporal updating of an agent’s beliefs in response to a flow of information is modeled in a simple modal logic that, for every date t , contains a normal belief operator B_t and a non-normal information operator I_t which is analogous to the ‘only knowing’ operator discussed in the...
Persistent link: https://www.econbiz.de/10008620408
I develop awareness-dependent subjective expected utility by taking unawareness structures introduced in Heifetz, Meier, and Schipper (2006, 2008, 2009) as primitives in the Anscombe-Aumann approach to subjective expected utility. I observe that a decision maker is unaware of an event if and...
Persistent link: https://www.econbiz.de/10008620418
We define generalized extensive-form games which allow for mutual unawareness of actions. We extend Pearce's (1984) notion of extensive-form (correlated) rationalizability to this setting, explore its properties and prove existence. We define also a new variant of this solution concept, prudent...
Persistent link: https://www.econbiz.de/10008620509
It is natural to think of belief revision as the interaction of belief and information over time. Thus branching-time temporal logic seems a natural setting for a theory of belief revision. We propose two extensions of a modal logic that, besides the ""next-time"" temporal operator, contains a...
Persistent link: https://www.econbiz.de/10008620515