Showing 1 - 10 of 31,682
We study the intergenerational accumulation of knowledge in an infinite-horizon model of communication. Each in a … equilibria do not exist. This is so both in the case of private communication in which each player only hears the message of his … immediate predecessor, and in the case of public communication, in which each player hears the message of all previous players …
Persistent link: https://www.econbiz.de/10014220427
Applying unawareness belief structures introduced in Heifetz, Meier, and Schipper (2013a), we develop Bayesian games … with unawareness, define equilibrium, and prove existence. We show how equilibria are extended naturally from lower to … higher awareness levels and restricted from higher to lower awareness levels. We apply Bayesian games with unawareness to …
Persistent link: https://www.econbiz.de/10010240317
We define a generalized state-space model with interactive unawareness and probabilistic beliefs. Such models are … desirable for many potential applications of asymmetric unawareness. We develop Bayesian games with unawareness, define … restricted from higher to lower awareness levels. We use our unawareness belief structure to show that the common prior …
Persistent link: https://www.econbiz.de/10010365853
Equilibrium notions for games with unawareness in the literature cannot be interpreted as steady-states of a learning … process because players may discover novel actions during play. In this sense, many games with unawareness are "self … state there is an extensive-form game with unawareness that together with the players' play determines the transition to …
Persistent link: https://www.econbiz.de/10012509154
We prove a \no-speculative-trade" theorem under unawareness for the infinite case. This generalizes the result for the …
Persistent link: https://www.econbiz.de/10009782964
We generalize the ``No-speculative-trade" theorem for finite unawareness belief structures in Heifetz, Meier, and …
Persistent link: https://www.econbiz.de/10010250539
The standard state-spaces of asymmetric information preclude non-trivial forms of unawareness (Modica and Rustichini …-trivial unawareness among several individuals, and which satisfies strong properties of knowledge as well as all the desiderata on … unawareness proposed this far in the literature. …
Persistent link: https://www.econbiz.de/10010366550
Heifetz, Meier and Schipper (2005) introduced a generalized state-space model that allows for non-trivial unawareness …
Persistent link: https://www.econbiz.de/10010343960
The modeling of awareness and unawareness is a significant topic in the doxastic logic literature, where it is usually … Heifetz and Mongin (2001). The paper embodies in this framework those properties of unawareness that have been highlighted in …
Persistent link: https://www.econbiz.de/10011620628
Case studies of cartels and recent theory suggest that repeated communication is key for stable cooperation in … environments where signals about others' actions are noisy. However, empirically the exact role of communication is not well … understood. We study cooperation under different monitoring and communication structures in the laboratory. Under all monitoring …
Persistent link: https://www.econbiz.de/10011925584