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by Barelli (2009). Surprisingly, our conditions do not require nor imply mutual belief in rationality. …
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Games in which players aim to guess a fraction or multiple p of the average guess are known as guessing games or (p-)beauty contests. In this note, we derive a full characterization of the set of rationalizable strategies and the set of pure strategy Nash equilibria for such games as a function...
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This chapter is a very compressed review of the neoclassical orthodoxy on the nature of rationality on economic theory … function of a definition of rationality. …
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