Infi nite hierarchies of awareness and belief arise in games with unawareness, similarly to belief hierarchies in standard games. A natural question is whether each hierarchy describes the player's awareness of the hierarchies of other players and beliefs over these, or whether the reasoning can...

This paper proves Li (2009) unawareness structure equivalent to the single-agent propositionally generated logic of awareness of Fagin and Halpern (1988). For any model of one type one can construct a model of the other type describing the same belief and awareness. Li starts from an agent...

I analyse a market with asymmetric information and interdependent values. Accessing the market is costly and stochastic, e.g. requires lobbying, licences, search or attention. For a range of parameter values, there is a unique equilibrium in which higher gains from trade reduce trading,...