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Dynamic unawareness and rationalizable behavior
Heifetz, Aviad; Meier, Martin; Schipper, Burkhard - 2011
We define generalized extensive-form games which allow for mutual unawareness of actions. We extend Pearce's (1984) notion of extensive-form (correlated) rationalizability to this setting, explore its properties and prove existence. -- Unawareness ; extensive-form games ; extensive-form...
Persistent link: https://www.econbiz.de/10009542457
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Prudent rationalizability in generalized extensive-form games
Heifetz, Aviad; Meier, Martin; Schipper, Burkhard - 2011
We define an extensive-form analogue of iterated admissibility, called Prudent Rationalizability (PR). In each round of the procedure, for each information set of a player a surviving strategy of hers is required to be rational vis-a-vis a belief system with a full-support belief on the...
Persistent link: https://www.econbiz.de/10009544217
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Dynamic unawareness and rationalizable behavior
Heifetz, Aviad; Meier, Martin; Schipper, Burkhard - 2009
We define generalized extensive-form games which allow for mutual unawareness of actions. We extend Pearce's (1984) notion of extensive-form (correlated) rationalizability to this setting, explore its properties and prove existence. We define also a new variant of this solution concept, prudent...
Persistent link: https://www.econbiz.de/10003878990
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Substantive Rationality and Backward Induction
Halpern, Joseph Y. - 2001
Aumann has proved that common knowledge of substantive rationality implies the backwards induction solution in games of …
Persistent link: https://www.econbiz.de/10014139406
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Rationalizable Outcome Distributions : A Markov Characterization
Veiel, Rafael; Gossner, Olivier - 2022
We study (interim correlated) rationalizability in a game with incomplete information. We characterize the recursive set of possible rationalizable hierarchies through a finite automaton and provide a revelation principle that characterizes the distributions over these hierarchies that arise...
Persistent link: https://www.econbiz.de/10014243353
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Refinements of Rationalizability for Normal-Form Games
Herings, P. Jean-Jacques; Vannetelbosch, Vincent J. - 1999
There exist three equivalent definitions of perfect Nash equilibria which differ in the way "best responses against small perturbations" are defined. It is shown that applying the spirit of these definitions to rationalizability leads to three different refinements of rationalizable strategies...
Persistent link: https://www.econbiz.de/10014200946
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Rationality behind Solution Concept
Song, Xihao - 2023
Theoretically, this work relaxes the rationality behind IESDS in the normal-form game and Backward Induction in the … extensive-form game, namely common p-believe in rationality in the normal-form game and common p-belief in the opponent’s future … rationality in the extensive-form game. Exper- imentally, this work uses the experimental data from Masaki, Guillaume, and Sevgi …
Persistent link: https://www.econbiz.de/10014357433
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Rationalizability and Nash Equilibria in Guessing Games
Seel, Christian - 2017
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...
Persistent link: https://www.econbiz.de/10012962808
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Social conformity in games with many players
Wooders, Myrna Holtz; Cartwright, Edward; Selten, Reinhard - 2003
In the literature of psychology and economics it is frequently observed that individuals tend to imitate similar individuals. A fundamental question is whether the outcome of such imitation can be consistent with self-interested behaviour. We propose that this consistency requires the existence...
Persistent link: https://www.econbiz.de/10011593822
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Interim correlated rationalizability
Dekel-Tabak, Eddie; Fudenberg, Drew; Morris, Stephen - In: Theoretical economics : TE ; an open access journal in … 2 (2007) 1, pp. 15-40
characterizes common certainty of rationality in the universal type space. …
Persistent link: https://www.econbiz.de/10011702628