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unique rationalizable action. This paper studies how a wide class of departures from common belief in rationality impact … attach to (n- 1)th-order belief in rationality. We find that Weinstein and Yildiz's discontinuity remains when λn is above an … appropriate threshold for all n, but fails when λn converges to 0. That is, if players' confidence in mutual rationality persists …
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rationality and eliminate all strategies which are not rationalizable. Second, I apply the maximin expected utility criterion …
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for some arbitrarily close type. Hence, refinements of rationalizability are not robust. This negative result is obtained … rationalizability when arbitrary common knowledge assumptions are relaxed (i.e., without assuming richness). For arbitrary spaces of …
Persistent link: https://www.econbiz.de/10011686699
Epistemic game theory formalizes assumptions about rationality and mutual beliefs in a formal language, then studies … their behavioral implications in games. Specifically, it asks: what do different notions of rationality and different … assumptions about what players believe about…what others believe about the rationality of players imply regarding play in a game …
Persistent link: https://www.econbiz.de/10014025447
This paper proposes the solution concept of interim correlated rationalizability, and shows that all types that have … characterizes common certainty of rationality in the universal type space. …
Persistent link: https://www.econbiz.de/10011702628
Rationalizability is a central concept in game theory. Since there may be many rationalizable strategies, applications …
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