The epistemic conditions of rationality and mth‐order strong belief of rationality (R mSBR; Battigalli and Siniscalchi, 2002) formalize the idea that players engage in contextualized forward‐induction reasoning. This paper characterizes the behavior consistent with...

Suppose that each player in a game is rational, each player thinks the other players are rational, and so on. Also, suppose that rationality is taken to incorporate an admissibility requirement — that is, the avoidance of weakly dominated strategies. Which strategies can be played? We provide...

Best-response sets (Pearce [1984]) characterize the epistemic condition of “rationality and common belief of rationality.” When rationality incorporates a weak-dominance (admissibility) requirement, the self-admissible set (SAS) concept (Brandenburger, Friedenberg, and Keisler [2008])...

Correlations arise naturally in noncooperative games, e.g., in the equivalence between undominated and optimal strategies in games with more than two players. But the noncooperative assumption is that players do not coordinate their strategy choices, so where do these correlations come from? The...

Correlations arise naturally in non-cooperative games, e.g., in the equivalence between undominated and optimal strategies in games with more than two players. But the non-cooperative assumption is that players do not coordinate their strategy choices, so where do these correlations come from?...

Best-response sets (Pearce, 1984 [28]) characterize the epistemic condition of "rationality and common belief of rationality." When rationality incorporates a weak-dominance (admissibility) requirement, the self-admissible set (SAS) concept (Brandenburger, Friedenberg, and Keisler, 2008 [17])...

Suppose that each player in a game is rational, each player thinks the other players are rational, and so on. Also, suppose that rationality is taken to incorporate an admissibility requirement-that is, the avoidance of weakly dominated strategies. Which strategies can be played? We provide an...

Hierarchies of beliefs play a central role in game theory. In practice, they are modeled by type structures. This allows the analyst to describe hierarchies without explicitly specifying an infinite sequence of beliefs. The focus of this paper is type structures that contain all hierarchies of...