We study perfect Bayesian equilibria of a sequential social learning model in which agents in a network learn about an underlying state by observing neighbors' choices. In contrast with prior work, we do not assume that the agents' sets of neighbors are mutually independent. We introduce a new...

We can often predict the behavior of those closest to us more accurately than that of complete strangers, yet we routinely engage in strategic situations with both: our social network impacts our strategic knowledge. Peer‐confirming equilibrium describes the behavioral consequences of this...

In his discussion of minimax decision rules, Savage (1954, p. 170) presents an example purporting to show that minimax applied to negative expected utility (referred to by Savage as 'negative income') is an inadequate decision criterion for statistics; he suggests the application of a minimax...