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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
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 …
Persistent link: https://www.econbiz.de/10010366550
Persistent link: https://www.econbiz.de/10009782964
Persistent link: https://www.econbiz.de/10010250539
problem. Information is modeled as a pair, consisting of both factual information and awareness information. The model … preserves the central properties of the standard information partition model …
Persistent link: https://www.econbiz.de/10014216943
Human utility embodies a number of seemingly irrational aspects. The leading example in this paper is that utilities often depend on the presence of salient unchosen alternatives. Our focus is to understand <i>why</i> an evolutionary process might optimally lead to such seemingly dysfunctional features...
Persistent link: https://www.econbiz.de/10011704445
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
applications, and with interactive epistemology — the theory of multi-agent knowledge and belief as formulated in mathematical … universal semantic systems are then defined and constructed, and the concepts of common knowledge and common priors formulated … and characterized. The last two sections discuss relations with Bayesian games of incomplete information and their …
Persistent link: https://www.econbiz.de/10014024502
Persistent link: https://www.econbiz.de/10012173247
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/10010282899