Aumann (1976) put forward a formal definition of common knowledge and used it to prove that two ""like minded"" individuals cannot ""agree to disagree"" in the following sense. If they start from a common prior and update the probability of an event E (using Bayes'' rule) on the basis of private...

We give an introduction to the literature on the epistemic foundations of solution concepts in game theory. Only normal-form games are considered. The solution concepts analyzed are rationalizability, strong rationalizability, correlated equilibrium and Nash equilibrium. The analysis is carried...

The logic of common belief does not always reflect the logic of individual beliefs. In particular, the Negative Introspection property fails at the common belief level, that is, it can happen that neither is A commonly believed nor is it common belief that A is not commonly believed. Indeed...

The logic of common belief does not always reflect the logic of individual beliefs. In particular, the Negative Introspection property fails at the common belief level, that is, it can happen than either is A commonly believed nor is it common belief that A is not commonly believed. Indeed...

Aumann (1976) put forward a formal definition of common knowledge and used it to prove that two "like minded" individuals cannot "agree to disagree" in the following sense. If they start from a common prior and update the probability of an event E (using Bayes' rule) on the basis of private...