Game-theoretic analysis often leads to consideration of an infinite hierarchy of beliefs for each player. Harsanyi suggested that such a hierarchy of beliefs could be summarized in a single entity, called the player's type. This chapter provides an elementary construction, complementary to the...

Best-response sets (Pearce [1984]) characterize the epistemic condition of “rationality and common belief of rationality.” When rationality incorporates a weak-dominance (admissibility) requirement, the self-admissible set (SAS) concept (Brandenburger, Friedenberg, and Keisler [2008])...

Two properties of preferences and representations for choice under uncertainty which play an important role in decision theory are: (i) admissibility, the requirement that weakly dominated actions should not be chosen; and (ii) the existence of well defined conditional probabilities, that is,...

We discuss the unity between the two standard approaches to noncooperative solution concepts for games. The decision-theoretic approach starts from the assumption that the rationality of the players is common knowledge. This leads to the notion of correlated rationalizability. It is shown that...

Correlations arise naturally in noncooperative games, e.g., in the equivalence between undominated and optimal strategies in games with more than two players. But the noncooperative assumption is that players do not coordinate their strategy choices, so where do these correlations come from? The...

A paradox of self-reference in beliefs in games is identified, which yields a game-theoretic impossibility theorem akin to Russell's Paradox. An informal version of the paradox is that the following configuration of beliefs is impossible:Ann believes that Bob assumes thatAnn believes that Bob's...

Purpose – The purpose of this paper is to present a general framework for the comprehension and advancement of sociocultural homeostasis (not to be confused with a steady state, but a dynamic constantly evolving process) in order to increase worker engagement, productivity and innovation...

This article describes how a realistic prediction of the exon regions in deoxyribonucleic acid (DNA) is a key task in the field of genomics. Learning of the protein coding regions is a key aspect of disease identification and designing drugs. These sections of DNA are known as exons, that show...

It is well understood that political participation is stratified by socio-economic characteristics. Yet it is an open question how this finding bears on the normative evaluation of the democratic process. In this paper we argue that the equality of opportunity (EOp) concept furnishes an...

Recent advances have led to the discovery of specific genetic variants that predict educational attainment. We study how these variants, summarized as a genetic score variable, are associated with human capital accumulation and labor market outcomes in the Health and Retirement Study (HRS). We...