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Rationally Justifiable Play and the Theory of Non-cooperative Games

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  • Cubitt, Robin P
  • Sugden, Robert

Abstract

This paper defines the concept of a justifiable strategy, that of a justification theory (which shows strategies to be justifiable) and that of a complete justification theory (which for every strategy shows whether it is justifiable or not). An impossibility result is proved, showing that there can be no complete justification theory that includes the assumptions of expected utility maximization, common knowledge, and caution. Copyright 1994 by Royal Economic Society.

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Bibliographic Info

Article provided by Royal Economic Society in its journal The Economic Journal.

Volume (Year): 104 (1994)
Issue (Month): 425 (July)
Pages: 798-803

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Handle: RePEc:ecj:econjl:v:104:y:1994:i:425:p:798-803

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Cited by:
  1. 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.
  2. David Squires, 1998. "Impossibility theorems for normal form games," Theory and Decision, Springer, vol. 44(1), pages 67-81, January.
  3. 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.
  4. Antonio Quesada, 2002. "Another impossibility result for normal form games," Theory and Decision, Springer, vol. 52(1), pages 73-80, February.
  5. Robin P. Cubitt & Robert Sugden, 2011. "Common reasoning in games: A Lewisian analysis of common knowledge of rationality," Working Paper series, University of East Anglia, Centre for Behavioural and Experimental Social Science (CBESS) 11-05, School of Economics, University of East Anglia, Norwich, UK..
  6. Attanasi, Giuseppe & Garcia-Gallego, Aurora & Georgantzis, Nikolaos & Montesano, Aldo, 2011. "An Experiment on Prisoner’s Dilemma with Confirmed Proposals," TSE Working Papers 11-274, Toulouse School of Economics (TSE).
  7. Attanasi, Giuseppe & Garcia-Gallego, Aurora & Georgantzis, Nikolaos & Montesano, Aldo, 2011. "An Experiment on Prisoner’s Dilemma with Confirmed Proposals," LERNA Working Papers 11.23.357, LERNA, University of Toulouse.
  8. Giuseppe Attanasi & Aurora García Gallego & Nikolaos Georgantzís & Aldo Montesano, 2010. "Non-cooperative games with chained confirmed proposals," LERNA Working Papers 10.02.308, LERNA, University of Toulouse.

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