Sequential Two-Player Games With Ambiguity
AbstractIf players' beliefs are strictly nonadditive, the Dempster-Shafer updating rule can be used to define beliefs off the equilibrium path. We define an equilibrium concept in sequential two-person games where players update their beliefs with the Dempster-Shafer updating rule. We show that in the limit as uncertainty tends to zero, our equilibrium approximates Bayesian Nash equilibrium. We argue that our equilibrium can be used to define a refinement of Bayesian Nash equilibrium by imposing context-dependent constraints on beliefs under uncertainty. Copyright 2004 by the Economics Department Of The University Of Pennsylvania And Osaka University Institute Of Social And Economic Research Association.
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Bibliographic InfoArticle provided by Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association in its journal International Economic Review.
Volume (Year): 45 (2004)
Issue (Month): 4 (November)
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- Roman Kozhan, 2008.
"Non-Additive Anonymous Games,"
wp08-04, Warwick Business School, Finance Group.
- Eichberger, Jürgen & Grant, Simon & Lefort, Jean-Philippe, 2009.
"Neo-additive capacities and updating,"
0490, University of Heidelberg, Department of Economics.
- Jürgen Eichberger & David Kelsey, 2008.
"Are the Treasures of Game Theory Ambiguous?,"
0469, University of Heidelberg, Department of Economics, revised Jul 2008.
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