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In their seminal paper, Mertens and Zamir (1985) proved the existence of a universal Harsanyi type space which consists of all possible types. Their method of proof depends crucially on topological assumptions. Whether such assumptions are essential to the existence of a universal space remained...
Persistent link: https://www.econbiz.de/10005407516
The assumption that decision makers choose actions to maximize their preferences is a central tenet in economics. This assumption is often justified either formally or informally by appealing to evolutionary arguments. In contrast, this paper shows that in almost every game, payoff. maximization...
Persistent link: https://www.econbiz.de/10005062348
We introduce a new operator on information structures which we call `knowing whether' as opposed to the standard knowledge operator which may be called `knowing that'. The difference between these operators is simple. Saying that an agent knows t h a t a certain event occurred implies that this...
Persistent link: https://www.econbiz.de/10005118517
Following a long-standing philosophical tradition, impartiality is a distinctive and determining feature of moral judgments, especially in matters of distributive justice. This broad ethical tradition was revived in welfare economics by Vickrey, and above all, Harsanyi, under the form of the...
Persistent link: https://www.econbiz.de/10005412494