Showing 1 - 10 of 11,695
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 equilibrium, and prove existence. We show how equilibria are...
Persistent link: https://www.econbiz.de/10010365853
Applying unawareness belief structures introduced in Heifetz, Meier, and Schipper (2012), 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...
Persistent link: https://www.econbiz.de/10014169832
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...
Persistent link: https://www.econbiz.de/10010240317
In the wake of growing awareness, decision makers anticipate that they might become aware of material possibilities and ideas that, in their current state of ignorance, are unimaginable. This anticipation manifests itself in their choice behavior. This paper models this awareness of unawareness...
Persistent link: https://www.econbiz.de/10010246087
Persistent link: https://www.econbiz.de/10010362195
In Bayesian environments with private information, as described by the types of Harsanyi, how can types of agents be … (statistically) disassociated from each other and how are such disassociations reflected in the agents’ knowledge structure … disassociation under common knowledge (the agents’ types are independent, conditional on some common-knowledge variable). Subjective …
Persistent link: https://www.econbiz.de/10003873501
process of conjectures formation and updating itself is a common knowledge. The BEIC is a refinement of Nash equilibrium and …
Persistent link: https://www.econbiz.de/10013100466
construct mechanisms that facilitate such cooperation, especially in the case of asymmetric private information. The two major …
Persistent link: https://www.econbiz.de/10008665710
J. Harsanyi introduced structural polymorphism in game theory, that is, there are many possible agent types such as “low productivity” or high productivity” with corresponding probability but all operating under one behavioral type, strict rationality. In this paper, we introduce...
Persistent link: https://www.econbiz.de/10011481671
We employ the theory of Bayesian potential games to characterize pure-strategy equilibria of a Bayesian game with finite type structures, taking into account the cost/benefit features of agents. Building on a standard model of oligopolistic competition also applicable to environmental issues...
Persistent link: https://www.econbiz.de/10013103125