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In classic game theory, agents use mixed strategies in the form of objective and probabilistically precise devices to conceal their actions. We introduce the larger set of probabilistically imprecise devices as strategies and study the consequences for the basic results of normal form games....
Persistent link: https://www.econbiz.de/10010329521
The paper generalizes Kuhn's Theorem to extensive form games in which players condition their play on the realization of ambiguous randomization devices and use a maxmin decision rule to evaluate the consequences of their decisions. It proves that ambiguous behavioral and ambiguous mixed...
Persistent link: https://www.econbiz.de/10010427187
Ambiguity can be used as a strategic device in some situations. To demonstrate this, we propose and study a framework for normal form games where players can use Knightian uncertainty strategically. In such Ellsberg games, players may use Ellsberg urns in addition to the standard objective mixed...
Persistent link: https://www.econbiz.de/10010319976
In classic game theory, agents use mixed strategies in the form of objective and probabilistically precise devices to conceal their actions. We introduce the larger set of probabilistically imprecise devices as strategies and study the consequences for the basic results of normal form games....
Persistent link: https://www.econbiz.de/10010342129
The paper generalizes Kuhn's Theorem to extensive form games in which players condition their play on the realization of ambiguous randomization devices and use a maxmin decision rule to evaluate the consequences of their decisions. It proves that ambiguous behavioral and ambiguous mixed...
Persistent link: https://www.econbiz.de/10010366154
Ambiguity can be used as a strategic device in some situations. To demonstrate this, we propose and study a framework for normal form games where players can use Knightian uncertainty strategically. In such Ellsberg games, players may use Ellsberg urns in addition to the standard objective mixed...
Persistent link: https://www.econbiz.de/10009238220
In the standard formulation of game theory, agents use mixed strategies in the form of objective and probabilistically precise devices to conceal their actions. We introduce the larger set of probabilistically imprecise devices and study the consequences for the basic results on normal form...
Persistent link: https://www.econbiz.de/10013091318
Ambiguity can be used as a strategic device in some situations. To demonstrate this, we propose and study a framework for normal form games where players can use Knightian uncertainty strategically. In such Ellsberg games, players may use Ellsberg urns in addition to the standard objective mixed...
Persistent link: https://www.econbiz.de/10013076515
Persistent link: https://www.econbiz.de/10011741122
In classic game theory, agents use mixed strategies in the form of objective and probabilistically precise devices to conceal their actions. We introduce the larger set of probabilistically imprecise devices as strategies and study the consequences for the basic results of normal form games....
Persistent link: https://www.econbiz.de/10010958076