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I investigate the existence of epistemic models for complete information games that satisfy the following properties: (R) players do not rule out their opponents use rational ex ante strategies for deriving their choices, (K) they do not rule out, ex ante, that they can come to know the action...
Persistent link: https://www.econbiz.de/10012707988
closedness under rational behavior and thus to strategic stability and to the best reply property and thus to rationalizability. …
Persistent link: https://www.econbiz.de/10011585170
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
closedness under rational behavior and thus to strategic stability and to the best reply property and thus to rationalizability. …
Persistent link: https://www.econbiz.de/10011620518
rationality and eliminate all strategies which are not rationalizable. Second, I apply the maximin expected utility criterion …
Persistent link: https://www.econbiz.de/10011946016
We analyze a symmetric n-firm Cournot oligopoly with a heterogeneous population of optimizers and imitators. Imitators mimic the output decision of the most successful firms of the previous round à la Vega-Redondo (1997). Optimizers play a myopic best response to the opponents' previous output....
Persistent link: https://www.econbiz.de/10010366551
We study costless pre-play communication of intentions among inexperienced players. Using the level-k model of strategic thinking to describe players' beliefs, we fully characterize the effects of pre-play communication in symmetric 2×2 games. One-way communication weakly increases coordination...
Persistent link: https://www.econbiz.de/10003586295
In an important paper, Weinstein and Yildiz (2007) show that if players have an infinite depth of reasoning and this is commonly believed, types generically have a unique rationalizable action in games that satisfy a richness condition. We show that this result does not extend to environments...
Persistent link: https://www.econbiz.de/10010221860
cues. These results cannot be explained by existing refinement theories, while a bounded rationality model explains them …
Persistent link: https://www.econbiz.de/10014066107
We use an experiment to explore how subjects learn to play against computers which are programmed to follow one of a number of standard learning algorithms. The learning theories are (unbeknown to subjects) a best response process, fictitious play, imitation, reinforcement learning, and a trial...
Persistent link: https://www.econbiz.de/10010366554