Showing 91 - 100 of 24,697
Actual behaviour is influenced in important ways by moral emotions, for instance guilt or shame (see among others Tangney et al., 2007). Belief-dependant models of social preferences using the framework of psychological games aim to consider such emotions to explain other-regarding behaviour....
Persistent link: https://www.econbiz.de/10010281628
We define an extensive-form analogue of iterated admissibility, called Prudent Rationalizability (PR). In each round of the procedure, for each information set of a player a surviving strategy of hers is required to be rational vis-a-vis a belief system with a full-support belief on the...
Persistent link: https://www.econbiz.de/10010282071
Morris (1996, 1997) introduced preference-based definitions of knowledge of belief in standard state-space structures. This paper extends this preference-based approach to unawareness structures (Heifetz, Meier, and Schipper, 2006, 2008). By defining unawareness and knowledge in terms of...
Persistent link: https://www.econbiz.de/10010282084
Applying unawareness belief structures introduced in Heifetz, Meier, and Schipper (2012), we develop Bayesian games with unawareness, define equilibrium, and prove existence. We show how equilibria are extended naturally from lower to higher awareness levels and restricted from higher to lower...
Persistent link: https://www.econbiz.de/10010282088
We define generalized extensive-form games which allow for mutual unawareness of actions. We extend Pearce's (1984) notion of extensive-form (correlated) rationalizability to this setting, explore its properties and prove existence.
Persistent link: https://www.econbiz.de/10010282093
I develop awareness-dependent subjective expected utility by taking unawareness structures introduced in Heifetz, Meier, and Schipper (2006, 2008, 2009) as primitives in the Anscombe-Aumann approach to subjective expected utility. I observe that a decision maker is unaware of an event if and...
Persistent link: https://www.econbiz.de/10010282094
We define generalized extensive-form games which allow for mutual unawareness of actions. We extend Pearce's (1984) notion of extensive-form (correlated) rationalizability to this setting, explore its properties and prove existence. We define also a new variant of this solution concept, prudent...
Persistent link: https://www.econbiz.de/10010282097
In his work on market signaling, Spence proposed a dynamic model of a signaling market in which a buyer revises prices in light of experience and sellers choose utility-maximizing signals given these prices. Spence also suggested that subjecting the dynamic process to rare perturbations might...
Persistent link: https://www.econbiz.de/10010291072
We introduce intention-based social preferences into mechanism design. We explore information structures that dier with respect to what is commonly known about the weight that agents attach to reciprocal kindness. When the designer has no information on reciprocity types, implementability of an...
Persistent link: https://www.econbiz.de/10011522109
The paper provides mathematical foundations for modeling strategic interdependence with a continuum of agents where uncertainty has an aggregate component and an agent-specific component and the latter satisfies a conditional law of large numbers. This decomposition of uncertainty is implied by...
Persistent link: https://www.econbiz.de/10012428597