Showing 1 - 6 of 6
We introduce and study a unified reasoning process which allows to represent the beliefs of both a fully rational agent and of an unaware one. This reasoning process provides natural properties to introspection and unawareness. The corresponding model for the rational or boundedly rational...
Persistent link: https://www.econbiz.de/10008540704
The present paper extends the standard model of pairwise communication among Bayesianagents to cases where the structure of the communication protocol is not commonly known.We show that, even under strict conditions on the structure of the protocols and the nature of the transmitted signals, a...
Persistent link: https://www.econbiz.de/10008540708
We provide epistemic conditions for Nash equilibrium, which are considerably weaker than thestandard ones by Aumann and Brandenburger (1995). Indeed, we simultaneously replace commonknowledge of conjectures and mutual knowledge of rationality with strictly weaker epistemicconditions of pairwise...
Persistent link: https://www.econbiz.de/10009651504
In this paper, we consider a finite set of agents with commonly known full-support priors on the fundamental space of uncertainty. Then, we show that if the hierarchies of conditional beliefs á la Battigalli and Siniscalchi (1999) are derived from these priors, then all types of the same agent...
Persistent link: https://www.econbiz.de/10008922423
We conduct an experiment to study how imperfect knowledge of the state space affects subsequent choices under uncertainty with perfect knowledge of the state space. Participants in our experiment choose between a sure outcome and a lottery in 32 periods. All treatments are exactly identical in...
Persistent link: https://www.econbiz.de/10008838660
In this paper we formalize the notion of lexicographic belief hierarchies in standard partitional models (Aumann, 1976). We introduce the notion of epistemic equivalence between two belief space, and show that the state space representation of lexicographic belief hierarchies is equivalent to...
Persistent link: https://www.econbiz.de/10008679884