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One central issue tackled in epistemic game theory is whether for a general class of strategic games the solution generated by iterated application of a choice rule gives exactly the strategy profiles that might be realized by players who follow this choice rule and commonly believe they follow...
Persistent link: https://www.econbiz.de/10010475615
We define a concept of epistemic robustness in the context of an epistemic model of a finite normal game where a player type corresponds to a belief over the profiles of opponent strategies and types. A Cartesian product X of pure strategy subsets is epistemically robust if there is a Cartesian...
Persistent link: https://www.econbiz.de/10011585170
Type structures are a simple device to describe higher-order beliefs. But how can we check whether two types generate the same belief hierarchy? This paper generalizes the concept of a type morphism and shows that one type structure is contained in another if and only if the former can be mapped...
Persistent link: https://www.econbiz.de/10011405499
In many experiments, the Nash equilibrium concept seems not to predict well. One reason may be that players have non-selfish preferences over outcomes. As a consequence, even when they are told what the material payoffs of the game are, mutual knowledge of preferences may not be satisfied. We...
Persistent link: https://www.econbiz.de/10011644480
We use a laboratory experiment to understand the channels through which honesty oaths can affect behavior and credibility. Using a game with asymmetric information in a financial market setting that captures some important features of advisor-investor interactions, we manipulate the common...
Persistent link: https://www.econbiz.de/10014380769
We develop a model of consulting (advising) where the role of the consultant is that she can reveal signals to her client which refine the client’s original private estimate of the profitability of a project. Importantly, only the client can observe or evaluate these signals, the consultant...
Persistent link: https://www.econbiz.de/10003780868
Persistent link: https://www.econbiz.de/10003807183
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
In this paper we study a model where non-cooperative agents may exchange knowledge in a competitive environment. As a potential factor that could induce the knowledge disclosure between humans we consider the timing of the moves of players. We develop a simple model of a multistage game in which...
Persistent link: https://www.econbiz.de/10008664165
We present a simple model of elections in which experts with special interests endorse candidates and endorsements are observed by the voters. We show that the equilibrium election outcome is biased towards the experts' interests even though voters know the distribution of expert interests and...
Persistent link: https://www.econbiz.de/10008664538