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Modeling Knowledge in Economic Analysis

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  • Larry Samuelson
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    Abstract

    This paper provides an introduction to how knowledge is modeled in economic contexts and the role played by the concepts of knowledge and common knowledge in economic analysis.

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    File URL: http://www.aeaweb.org/articles.php?doi=10.1257/0022051041409057
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    Bibliographic Info

    Article provided by American Economic Association in its journal Journal of Economic Literature.

    Volume (Year): 42 (2004)
    Issue (Month): 2 (June)
    Pages: 367-403

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    Handle: RePEc:aea:jeclit:v:42:y:2004:i:2:p:367-403

    Note: DOI: 10.1257/0022051041409057
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    References

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    1. Mailath, G.J. & Samuelson, L. & Swinkels, J., 1991. "extensive Form Reasoning in Normal Form Games," Papers 9130, Tilburg - Center for Economic Research.
    2. Roger B. Myerson & Mark A. Satterthwaite, 1981. "Efficient Mechanisms for Bilateral Trading," Discussion Papers 469S, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
    3. Rubinstein, Ariel, 1982. "Perfect Equilibrium in a Bargaining Model," Econometrica, Econometric Society, vol. 50(1), pages 97-109, January.
    4. D. Samet, 1987. "Ignoring Ignorance and Agreeing to Disagree," Discussion Papers 749, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
    5. John C. Harsanyi & Reinhard Selten, 1988. "A General Theory of Equilibrium Selection in Games," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262582384, December.
    6. Drew Fudenberg & David K. Levine, 1998. "The Theory of Learning in Games," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262061945, December.
    7. Stalnaker, Robert, 1996. "Knowledge, Belief and Counterfactual Reasoning in Games," Economics and Philosophy, Cambridge University Press, vol. 12(02), pages 133-163, October.
    8. Drew Fudenberg & David M. Kreps & David K. Levine, 1986. "On the Robustness of Equilibrium Refinements," UCLA Economics Working Papers 398, UCLA Department of Economics.
    9. George J. Mailath, 1998. "Do People Play Nash Equilibrium? Lessons from Evolutionary Game Theory," Journal of Economic Literature, American Economic Association, vol. 36(3), pages 1347-1374, September.
    10. Crawford, Vincent P, 1985. "Efficient and Durable Decision Rules: A Reformulation," Econometrica, Econometric Society, vol. 53(4), pages 817-35, July.
    11. Battigalli, Pierpaolo & Siniscalchi, Marciano, 2002. "Strong Belief and Forward Induction Reasoning," Journal of Economic Theory, Elsevier, vol. 106(2), pages 356-391, October.
    12. Adam Brandenburger, 1992. "Knowledge and Equilibrium in Games," Journal of Economic Perspectives, American Economic Association, vol. 6(4), pages 83-101, Fall.
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    Citations

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    Cited by:
    1. Martin Hrubý & Petr Čambala & Jan Toufar, 2010. "Game-Theoretic Modeling of Electricity Markets in Central Europe," Czech Economic Review, Charles University Prague, Faculty of Social Sciences, Institute of Economic Studies, vol. 4(1), pages 032-061, March.
    2. Robin P. Cubitt & Robert Sugden, 2008. "Common reasoning in games," Discussion Papers 2008-01, The Centre for Decision Research and Experimental Economics, School of Economics, University of Nottingham.
    3. Amavilah, Voxi Heinrich, 2007. "The effects of technology-as-knowledge on the economic performance of developing countries: An econometric analysis using annual publications data for Botswana, Namibia, and South Africa, 1976-2004," MPRA Paper 3482, University Library of Munich, Germany.
    4. Kai, Guo & Conlon, John R., 2007. "Why Bubble-Bursting Is Unpredictable: Welfare Effects Of Anti-Bubble Policy When Central Banks Make Mistakes," MPRA Paper 5927, University Library of Munich, Germany.
    5. Geoffrey Brennan & Werner Güth & Hartmut Kliemt, 2004. "Approximate Truth in Economic Modelling," Papers on Strategic Interaction 2004-38, Max Planck Institute of Economics, Strategic Interaction Group.
    6. Ziv Hellman, 2013. "Almost common priors," International Journal of Game Theory, Springer, vol. 42(2), pages 399-410, May.
    7. John R. Conlon, 2008. "Should Central Banks Burst Bubbles? Some Microeconomic Issues," Levine's Working Paper Archive 122247000000002330, David K. Levine.
    8. Zambrano, Eduardo, 2008. "Epistemic conditions for rationalizability," Games and Economic Behavior, Elsevier, vol. 63(1), pages 395-405, May.
    9. Robin Cubitt & Robert Sugden, 2005. "Common reasoning in games: a resolution of the paradoxes of ‘common knowledge of rationality’," Discussion Papers 2005-17, The Centre for Decision Research and Experimental Economics, School of Economics, University of Nottingham.
    10. John Conlon, 2005. "Should Central Banks Burst Bubbles?," Game Theory and Information 0508007, EconWPA.
    11. Pierre Garrouste, 2008. "The Austrian roots of the economics of institutions," The Review of Austrian Economics, Springer, vol. 21(4), pages 251-269, December.
    12. Moscati Ivan, 2009. "Interactive and common knowledge in the state-space model," CESMEP Working Papers 200903, University of Turin.
    13. Chen, Yi-Chun & Long, Ngo Van & Luo, Xiao, 2007. "Iterated strict dominance in general games," Games and Economic Behavior, Elsevier, vol. 61(2), pages 299-315, November.
    14. Chuma, Hiroyuki, 2006. "Increasing complexity and limits of organization in the microlithography industry: implications for science-based industries," Research Policy, Elsevier, vol. 35(3), pages 394-411, April.

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