systems, in which there is common knowledge of rationality and a common prior. We show here that common knowledge of … rationality is not needed: when rationality is satisfied in the support of an action-consistent distribution (a concept introduced … rational belief systems’ there may not be mutual knowledge of rationality, let alone common knowledge of rationality. In the …

observations, and the assumption of Bayesian rationality. Since no betting strategy is irrational, Bayesianism is useless as a … normative theory as well. …