Showing 91 - 100 of 634
The present paper extends the standard model of pairwise communication among Bayesian agents to cases where the structure of the communication protocol is not commonly known. We show that, even under standard strict conditions on the structure of the protocols and the nature of the transmitted...
Persistent link: https://www.econbiz.de/10010875250
In this paper, we introduce a notion of epistemic equivalence between hierarchies of conditional beliefs and hierarchies of lexicographic beliefs, thus extending the standard equivalence results of Halpern (2010) and Brandenburger et al. (2007) to an interactive setting, and we show that there...
Persistent link: https://www.econbiz.de/10010785196
We consider agents who attach a rational probability to every Borel event. We call these Borel probability measures rational and introduce the notion of a rational belief hierarchy, where the first order beliefs are described by a rational measure over the fundamental space of uncertainty, the...
Persistent link: https://www.econbiz.de/10010786720
Is it possible to guarantee that the mere exposure of a subject to a belief elicitation task will not affect the very same beliefs that we are trying to elicit? In this paper, we introduce mechanisms that make it simultaneously strictly dominant for the subject (a) not to acquire any information...
Persistent link: https://www.econbiz.de/10012637418
This paper studies the target projection dynamic, which is a model of myopic adjustment for population games. We put it into the standard microeconomic framework of utility maximization with control costs. We also show that it is well-behaved, since it satisfies the desirable properties: Nash...
Persistent link: https://www.econbiz.de/10010281428
Is it possible to guarantee that the mere exposure of a subject to a belief elicitation task will not affect the very same beliefs that we are trying to elicit? In this paper, we introduce mechanisms that make it simultaneously strictly dominant for the subject (a) not to acquire any information...
Persistent link: https://www.econbiz.de/10013189019
We study the target projection dynamic, a model of learning in normal form games. The dynamic is given a microeconomic foundation in terms of myopic optimization under control costs due to a certain status-quo bias. We establish a number of desirable properties of the dynamic: existence,...
Persistent link: https://www.econbiz.de/10008483507
In this article we discuss the differences between the average marginal effect and the marginal effect of the average individual in sample selection models, estimated by the Heckman procedure. We show that the bias that emerges as a consequence of interchanging the measures, could be very...
Persistent link: https://www.econbiz.de/10005463339
I consider a gamble where the sum of the distributed payoffs is proportionate to the number of participants. I show that no subset of the population can agree to participate in the bet, if the size of the group is commonly known. Repeated announcements of the number of the participants leads the...
Persistent link: https://www.econbiz.de/10005423919
We study common belief of rationality in strategic-form games with ordinal utilities, employing a model of qualitative beliefs. We characterize the three main solution concepts for such games, viz., Iterated Deletion of Strictly Dominated Strategies (IDSDS), Iterated Deletion of...
Persistent link: https://www.econbiz.de/10011936491