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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
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
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
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
We characterize full implementation of social choice sets in mixedstrategy Bayesian equilibrium. Our results concern … both exact and virtual mixed implementation. For exact implementation, we identify a strengthening of Bayesian monotonicity …, mixed Bayesian implementation is equivalent to mixed Bayesian monotonicity, incentive compatibility and closure. For …
Persistent link: https://www.econbiz.de/10010284058