Showing 61 - 70 of 139,473
Persistent link: https://www.econbiz.de/10012593889
Suppose we replace "knowledge" by "belief with probability p" in standard definitions of common knowledge. Very … different notions arise depending on the exact definition of common knowledge used in the substitution. This paper demonstrates … information games, best response dynamics in incomplete information games, and agreeing to disagree/no trade results …
Persistent link: https://www.econbiz.de/10014185739
One approach to representing knowledge or belief of agents, used by economists and computer scientists, involves an …
Persistent link: https://www.econbiz.de/10014185741
Common knowledge can be defined in at least two ways: syntactically as the common knowledge of a set of formulas or … semantically, as the meet of the knowledge partitions of the agents. In the multi-agent S5 logic with either finitely or countably … held in common knowledge, there is either only one member or uncountably many members of the meet partition with this …
Persistent link: https://www.econbiz.de/10014185740
hypothetical knowledge and the extended information structures used to model it bear some resemblance to the way philosophers have …Samet introduced a notion of hypothetical knowledge and showed how it could be used to capture the type of … counterfactual reasoning necessary to force the backwards induction solution in a game of perfect information. He argued that while …
Persistent link: https://www.econbiz.de/10014185742
In Bayesian environments with private information, as described by the types of Harsanyi, how can types of agents be … (statistically) disassociated from each other and how are such disassociations reflected in the agents’ knowledge structure … disassociation under common knowledge (the agents’ types are independent, conditional on some common-knowledge variable). Subjective …
Persistent link: https://www.econbiz.de/10003873501
desired coordination of actions even when a high order of mutual knowledge of payoff functions obtains. We want to make … explicit the role of knowledge about rationality of players, not only that of payoff functions. For this purpose, we use an … embedding belief systems, it is necessary that the upper bound order of mutual knowledge of payoff functions exceeds the upper …
Persistent link: https://www.econbiz.de/10003321328
desired coordination of actions even when a high order of mutual knowledge of payoff functions obtains. We want to make … explicit the role of knowledge about rationality of players, not only that of payoff functions. For this purpose, we use an … embedding belief systems, it is necessary that the upper bound order of mutual knowledge of payoff functions exceeds the upper …
Persistent link: https://www.econbiz.de/10014059114
This paper creates a game theoretic model to determine how pendulum arbitration or baseball arbitration impacts the incentives of litigants. Pendulum arbitration is when both parties submit competing proposals and the arbitrator chooses only one of the bids, in its entirety, to be binding on...
Persistent link: https://www.econbiz.de/10014043074
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