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Corrigendum to “Rationality and coherent theories of strategic behavior” [J. Econ. Theory 70 (1) (1996) 1–31]

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  • Luo, Xiao
  • Qiao, Yongchuan

Abstract

We show, by means of a counterexample, that Propositions 3, 4, and 7 in Gul (1996) [G96] are incorrect. Our example is also a counterexample to Lemma 1 in G96, which is the basis for the proofs of these propositions. We provide insight for the source of the problem in the definition of a perfect τ-theory in G96, and then offer a modification that restores these results in G96.

Suggested Citation

  • Luo, Xiao & Qiao, Yongchuan, 2017. "Corrigendum to “Rationality and coherent theories of strategic behavior” [J. Econ. Theory 70 (1) (1996) 1–31]," Journal of Economic Theory, Elsevier, vol. 167(C), pages 269-273.
    • Handle: RePEc:eee:jetheo:v:167:y:2017:i:c:p:269-273
    DOI: 10.1016/j.jet.2016.11.002
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    References listed on IDEAS

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    1. Dekel, Eddie & Fudenberg, Drew, 1990. "Rational behavior with payoff uncertainty," Journal of Economic Theory, Elsevier, vol. 52(2), pages 243-267, December.
    2. Elchanan Ben-Porath, 1997. "Rationality, Nash Equilibrium and Backwards Induction in Perfect-Information Games," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 64(1), pages 23-46.
    3. Kreps,David M. & Wallis,Kenneth F. (ed.), 1997. "Advances in Economics and Econometrics: Theory and Applications," Cambridge Books, Cambridge University Press, number 9780521589833.
    4. Gul, Faruk, 1996. "Rationality and Coherent Theories of Strategic Behavior," Journal of Economic Theory, Elsevier, vol. 70(1), pages 1-31, July.
    5. Kreps,David M. & Wallis,Kenneth F. (ed.), 1997. "Advances in Economics and Econometrics: Theory and Applications," Cambridge Books, Cambridge University Press, number 9780521589819.
    6. Pearce, David G, 1984. "Rationalizable Strategic Behavior and the Problem of Perfection," Econometrica, Econometric Society, vol. 52(4), pages 1029-1050, July.
    7. Kreps,David M. & Wallis,Kenneth F. (ed.), 1997. "Advances in Economics and Econometrics: Theory and Applications," Cambridge Books, Cambridge University Press, number 9780521589826.
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    More about this item

    Keywords

    Game theory; Perfect τ-theories;

    JEL classification:

    • C72 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Noncooperative Games

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