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A Nash equilibrium can also be seen as a Cournot-Nash equilibrium, though this is debated because Cournot provided a specific application, not a general formulation. In my view, another of Nash's fundamental contributions stands out when contrasting him to Cournot. Cournot treated economic...
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This paper generalizes a result by Samet concerning iterated expectations and common priors. When a player in some state of the world is allowed to ascribe probability zero to that state, something not allowed in Samet's framework, iterated expectations may not converge, and when they do, common...
Persistent link: https://www.econbiz.de/10014116290
This paper analyzes farsighted stable sets when agents have heterogeneous expectations over the dominance paths. We consider expectation functions satisfying two properties of path-persistence and consistency. We show that farsighted stable sets with heterogeneous expectations always exist and...
Persistent link: https://www.econbiz.de/10012952689
and relatively nonreligious study subjects. This result was inconsistent with the bounded rationality theory, which … identity. It was more consistent with the expressive rationality theory, under which individuals of opposing cultural …
Persistent link: https://www.econbiz.de/10012983266
This paper analyzes farsighted stable sets when agents have heterogeneous expectations over the dominance paths. We consider expectation functions satisfying the two properties of justifiability and maximality and define stable alternatives as endpoints of the expectation function of some agent...
Persistent link: https://www.econbiz.de/10012908739
Delusional beliefs are seen in association with a number of neuropathological conditions, including schizophrenia, dementia, and traumatic brain injury. A key distinction exists between polythematic delusion (here the patient exhibits delusional beliefs about a variety of topics that are...
Persistent link: https://www.econbiz.de/10013135295
This paper analyzes farsighted stable sets when agents have heterogeneous expectations over the dominance paths. We consider expectation functions satisfying two properties of justifiability and maximality. We characterize singleton farsighted stable sets with heterogeneous expectations in...
Persistent link: https://www.econbiz.de/10012927833