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Games in which players aim to guess a fraction or multiple p of the average guess are known as guessing games or (p-)beauty contests. In this note, we derive a full characterization of the set of rationalizable strategies and the set of pure strategy Nash equilibria for such games as a function...
Persistent link: https://www.econbiz.de/10012962808
characterizes common certainty of rationality in the universal type space. …
Persistent link: https://www.econbiz.de/10011702628
This chapter is a very compressed review of the neoclassical orthodoxy on the nature of rationality on economic theory … function of a definition of rationality. …
Persistent link: https://www.econbiz.de/10014025458
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
We consider a general-sum N-player linear-quadratic game with stochastic dynamics over a finite horizon and prove the global convergence of the natural policy gradient method to the Nash equilibrium. In order to prove convergence of the method we require a certain amount of noise in the system....
Persistent link: https://www.econbiz.de/10013217478
Persistent link: https://www.econbiz.de/10011285514
This paper provides two conditions of epistemic robustness, robustness to alternative best replies and robustness to non-best replies, and uses them to characterize variants of curb sets in finite games, including the set of rationalizable strategies. -- epistemic game theory ; epistemic...
Persistent link: https://www.econbiz.de/10003823241
Persistent link: https://www.econbiz.de/10003387654
This paper provides a definition of epistemic stability of sets of strategy profiles, and uses it to characterize variants of curb sets in finite games, including the set of rationalizable strategies and minimal curb sets. -- Epistemic game theory ; epistemic stability ; rationalizability ;...
Persistent link: https://www.econbiz.de/10003926287
Persistent link: https://www.econbiz.de/10009243203