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Predictions under common knowledge of payoffs may differ from those under arbitrarily, but finitely, many orders of mutual knowledge; Rubinstein's (1989)Email game is a seminal example. Weinstein and Yildiz (2007) showed that the discontinuity in the example generalizes: for all types with...
Persistent link: https://www.econbiz.de/10012159030
I investigate the decision problem of a player in a game of incomplete information who faces uncertainty about the other players' strategies. I propose a new decision criterion which works in two steps. First, I assume common knowledge of rationality and eliminate all strategies which are not...
Persistent link: https://www.econbiz.de/10011946016
Persistent link: https://www.econbiz.de/10009572165
rationalizable implementation. Set-monotonicity is much weaker than Maskin monotonicity, which is the key condition for Nash … implementation and which also had been shown to be necessary for rationalizable implementation of social choice functions. Set …-monotonicity reduces to Maskin monotonicity in the case of functions. We conclude that the conditions for rationalizable implementation are …
Persistent link: https://www.econbiz.de/10011669323
rationalizable implementation. Set-monotonicity is much weaker than Maskin monotonicity, which is the key condition for Nash … implementation and which also had been shown to be necessary for rationalizable implementation of social choice functions. Set …-monotonicity reduces to Maskin monotonicity in the case of functions. We conclude that the conditions for rationalizable implementation are …
Persistent link: https://www.econbiz.de/10011483605
I investigate the decision problem of a player in a game of incomplete information who faces uncertainty about the other players' strategies. I propose a new decision criterion which works in two steps. First, I assume common knowledge of rationality and eliminate all strategies which are not...
Persistent link: https://www.econbiz.de/10011946259
Predictions under common knowledge of payoffs may differ from those under arbitrarily, but finitely, many orders of mutual knowledge; Rubinstein's (1989)Email game is a seminal example. Weinstein and Yildiz (2007) showed that the discontinuity in the example generalizes: for all types with...
Persistent link: https://www.econbiz.de/10012215306
We consider a disclosure game between a seller and a buyer. The seller knows the quality of a good, while the buyer does not. Before the buyer decides how many units to purchase, the seller can disclose verifiable information about the good. The better the information, the more the buyer is...
Persistent link: https://www.econbiz.de/10015405163
constraint in implementation and all incentive compatible social choice functions are Bayesian implementable. In contrast to the …
Persistent link: https://www.econbiz.de/10012503049
conditions, e.g., Bayesian monotonicity, are needed to ensure full implementation. We argue that this multiplicity problem is not … very severe for virtual Bayesian implementation. We show that any incentive compatible social choice function is virtually … provide a necessary and sufficient condition – type diversity with respect to deceptions – for virtual Bayesian implementation …
Persistent link: https://www.econbiz.de/10010318919