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Uncertain rationality, depth of reasoning and robustness in games with incomplete information
Germano, Fabrizio; Weinstein, Jonathan; Zuazo-Garin, Peio - In: Theoretical economics : TE ; an open access journal in … 15 (2020) 1, pp. 89-122
unique rationalizable action. This paper studies how a wide class of departures from common belief in rationality impact … attach to (n- 1)th-order belief in rationality. We find that Weinstein and Yildiz's discontinuity remains when λn is above an … appropriate threshold for all n, but fails when λn converges to 0. That is, if players' confidence in mutual rationality persists …
Persistent link: https://www.econbiz.de/10012159030
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A Discussion of Maximin
Pruzhansky, Vitaly - 2004
This paper builds on one of the results of Pruzhansky [22], namely that maximin strategies guarantee the same expected payoffs as mixed Nash equilibrium strategies in bimatrix games. We present a discussion on the applicability of maximin strategies in such class of games. The usefulness of...
Persistent link: https://www.econbiz.de/10010325282
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A Discussion of Maximin
Pruzhansky, Vitaly - Tinbergen Instituut - 2004
This paper builds on one of the results of Pruzhansky [22], namely that maximin strategies guarantee the same expected payoffs as mixed Nash equilibrium strategies in bimatrix games. We present a discussion on the applicability of maximin strategies in such class of games. The usefulness of...
Persistent link: https://www.econbiz.de/10011255636
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A Discussion of Maximin
Pruzhansky, Vitaly - Tinbergen Institute - 2004
This paper builds on one of the results of Pruzhansky [22], namely that maximin strategies guarantee the same expected payo.s as mixed Nash equilibrium strategies in bimatrix games. We present a discussion on the applicability of maximin strategies in such class of games. The usefulness of...
Persistent link: https://www.econbiz.de/10005450748
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Uncertain rationality, depth of reasoning and robustness in games with incomplete information
Germano, Fabrizio; Weinstein, Jonathan; Zuazo-Garin, Peio - 2016
Persistent link: https://www.econbiz.de/10011607371
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Uncertain rationality, depth of reasoning and robustness in games with incomplete information
Germano, Fabrizio; Weinstein, Jonathan; Zuazo-Garin, Peio - 2016
Persistent link: https://www.econbiz.de/10011686497
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Procedural Rationality in Repeated Games
Sethi, Rajiv - 2020
This paper considers finitely repeated games played by procedurally rational players, who sample their available alternatives and use realized payoffs as a basis for strategy selection. The corresponding solution concept is that of (payoff) sampling equilibrium, which is a distribution over...
Persistent link: https://www.econbiz.de/10012847337
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A Note on the Ultimatum Paradox, Bounded Rationality, and Uncertainty
Webster, Thomas Joseph - 2019
interpretation that the utility functions of takers are characterized by bounded rationality and the objective of givers is to offer …
Persistent link: https://www.econbiz.de/10012905908
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Rationality, Strategic Uncertainty and Belief Diversity in Non-Cooperative Games
Zambrano, Eduardo - 2015
I investigate the existence of epistemic models for complete information games that satisfy the following properties: (R) players do not rule out their opponents use rational ex ante strategies for deriving their choices, (K) they do not rule out, ex ante, that they can come to know the action...
Persistent link: https://www.econbiz.de/10012707988
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On finding curb sets in extensive games
Pruzhansky, Vitaly - 2003
We characterize strategy sets that are closed under rational behavior (curb) in extensive games of perfect information and finite horizon. It is shown that any such game possesses only one minimal curb set, which necessarily includes all its subgame perfect Nash equilibria. Applications of this...
Persistent link: https://www.econbiz.de/10011334337