Showing 31 - 40 of 41,885
We prove a \no-speculative-trade" theorem under unawareness for the infinite case. This generalizes the result for the …
Persistent link: https://www.econbiz.de/10009782964
Heifetz, Meier and Schipper (2005) introduced a generalized state-space model that allows for non-trivial unawareness …
Persistent link: https://www.econbiz.de/10010343960
We define a generalized state-space model with interactive unawareness and probabilistic beliefs. Such models are … desirable for potential applications of asymmetric unawareness. Applying our unawareness belief structures, we show that the … generalization of the "No-agreeing-to-disagree" theorem. Finally, we show the existence of a universal unawareness belief type space. …
Persistent link: https://www.econbiz.de/10009350254
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 awareness levels. We apply Bayesian games with unawareness to …
Persistent link: https://www.econbiz.de/10010549855
We define a generalized state-space model with interactive unawareness and probabilistic beliefs. Such models are … desirable for potential applications of asymmetric unawareness. We compare unawareness with probability zero belief. Applying … our unawareness belief structures, we show that the common prior assumption is too weak to rule out speculative trade in …
Persistent link: https://www.econbiz.de/10008527367
I study how choice behavior given unawareness of an event differs from choice behavior given subjective belief of zero … probability on that event. Depending on different types of unawareness the decision-maker suffers, behavior under unawareness is … either incomparable with that under zero probability (in the case of pure unawareness), or drastically different (in the case …
Persistent link: https://www.econbiz.de/10005126692
The standard state-spaces of asymmetric information preclude non-trivial forms of unawareness (Dekel, Lipman and … Rustichini, 1998). We introduce a generalized state-space model that allows for non-trivial unawareness among several individuals …, and which satisfies strong properties of knowledge as well as all the desiderata on unawareness proposed this far in the …
Persistent link: https://www.econbiz.de/10005008472
I develop a set-theoretic model of unawareness without making any structural assumptions on the underlying state space …. Unawareness is characterized as a measurability constraint that results in players' reasoning about a “coarse" subjective algebra … variant of the partition model to examine the case of partial unawareness, where the player is aware of a question but unaware …
Persistent link: https://www.econbiz.de/10005102103
I construct a state space model with unawareness following Aumann (1976). Dekel, Lipman and Rustichini (1998a) show … that standard state space models are incapable of representing unawareness. The model circumvents the impossibility result … by endowing the agent with a subjective state space that differs from the full state space when he has the unawareness …
Persistent link: https://www.econbiz.de/10005102108
unawareness, which significantly differ from those in the standard information partition model by allowing for false interactive …
Persistent link: https://www.econbiz.de/10005102115