Robert Wilson criticizes applied game theory's reliance on common-knowledge assumptions. In reaction to Wilson's critique, the recent literature of mechanism design has adopted the goal of finding "detail-free "mechanisms in order to eliminate this reliance. In practice this has meant...

Robert Wilson criticizes applied game theory's reliance on common-knowledge assumptions. In reaction to Wilson's critique, the recent literature of mechanism design has adopted the goal of finding detail-free mechanisms in order to eliminate this reliance. In practice this has meant restricting...

This paper studies a model in which in period 1, a decision-maker chooses a set of lotteries and in period 2, Nature chooses a lottery from the set chosen by the decision-maker and the decision-maker consumes the lottery chosen by Nature. Larger sets are interpreted as representing more...

This paper studies a model in which in period 1, a decision-maker chooses a set of lotteries and in period 2, Nature chooses a lottery from the set chosen by the decision-maker and the decision-maker consumes the lottery chosen by Nature. Larger sets are interpreted as representing more...