Search Results - subject:"Consistent prior"

An Explicit Approach to Modeling Finite-Order Type Spaces and Applications

Qin, Cheng-Zhong; Yang, Chun-Lei - Department of Economics, University of California-Santa … - 2009

-closed space to be of order k if it can be mapped via a type morphism into the "canonical representation" of an order-k consistent … prior. We show that order-k type spaces are those in which any two types of each player must be either identical implying …

Persistent link: https://www.econbiz.de/10011131654

Finite-order type spaces and applications

Qin, Cheng-Zhong; Yang, Chun-Lei - In: Journal of Economic Theory 148 (2013) 2, pp. 689-719

We propose a framework of consistent finite-order priors to facilitate the incorporation of higher-order uncertainties into Bayesian game analysis, without invoking the concept of a universal type space. Several recent models, which give rise to stunning results with higher-order uncertainties,...

Persistent link: https://www.econbiz.de/10010662402