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A partitional model of knowledge is monotonic if there exists a linear order on the state space such that, for every player, each element of her partition contains only a sequence of consecutive states. In monotonic models, the absence of alternating cycles is equivalent to the property that,...
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I study monotonicity and uniqueness of the equilibrium strategies in a two-person first price auction with affiliated … require risk neutrality. …
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Young’s theorem implies that every core concept violates monotonicity. In this paper, we investigate when such a … violation of monotonicity by a given core concept is justified. We introduce a new monotonicity property for core concepts. We …
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