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for some arbitrarily close type. Hence, refinements of rationalizability are not robust. This negative result is obtained … rationalizability when arbitrary common knowledge assumptions are relaxed (i.e., without assuming richness). For arbitrary spaces of …
Persistent link: https://www.econbiz.de/10011686699
I investigate the decision problem of a player in a game of incomplete information who faces uncertainty about the other players' strategies. I propose a new decision criterion which works in two steps. First, I assume common knowledge of rationality and eliminate all strategies which are not...
Persistent link: https://www.econbiz.de/10011946016
Predictions under common knowledge of payoffs may differ from those under arbitrarily, but finitely, many orders of mutual knowledge; Rubinstein's (1989)Email game is a seminal example. Weinstein and Yildiz (2007) showed that the discontinuity in the example generalizes: for all types with...
Persistent link: https://www.econbiz.de/10012159030
for some arbitrarily close type. Hence, refinements of rationalizability are not robust. This negative result is obtained … rationalizability when arbitrary common knowledge assumptions are relaxed (i.e., without assuming richness). For arbitrary spaces of …
Persistent link: https://www.econbiz.de/10011599487
I investigate the decision problem of a player in a game of incomplete information who faces uncertainty about the other players' strategies. I propose a new decision criterion which works in two steps. First, I assume common knowledge of rationality and eliminate all strategies which are not...
Persistent link: https://www.econbiz.de/10011946259
on first-order beliefs. For any fixed D we obtain a solution called D-rationalizability.In static games, D-rationalizability … capturing the robust implications of Bayesian equilibrium analysis.In dynamic games, D-rationalizability yields a forward …
Persistent link: https://www.econbiz.de/10014588989
equilibria can be computed by means of a "backwards procedure" that combines the logic of rationalizability and backward …
Persistent link: https://www.econbiz.de/10009438697
Predictions under common knowledge of payoffs may differ from those under arbitrarily, but finitely, many orders of mutual knowledge; Rubinstein's (1989)Email game is a seminal example. Weinstein and Yildiz (2007) showed that the discontinuity in the example generalizes: for all types with...
Persistent link: https://www.econbiz.de/10012215306
Persistent link: https://www.econbiz.de/10011378475
Persistent link: https://www.econbiz.de/10011304989