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Rational beliefs in rationalizability

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  • Xiao Luo

    (National University of Singapore)

Abstract

In this paper I scrutinize the “rational beliefs” in the concept of rationalizability in strategic games [Bernheim (Econometrica 52:1007–1028, 1984), Pearce (Econometrica 52:1029–1051, 1984)]. I illustrate through an example that a rationalizable strategy may not be supported by a “rational belief”, at least under one plausible interpretation of “rational belief”. I offer an alternative formulation of “rational belief” in the concept of rationalizability, which yields a novel epistemic interpretation of the notion of point-rationalizability.

Suggested Citation

  • Xiao Luo, 2016. "Rational beliefs in rationalizability," Theory and Decision, Springer, vol. 81(2), pages 189-198, August.
    • Handle: RePEc:kap:theord:v:81:y:2016:i:2:d:10.1007_s11238-015-9528-6
    DOI: 10.1007/s11238-015-9528-6
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    References listed on IDEAS

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    Cited by:

    1. Joep Sloun, 2023. "Rationalizable behavior in the Hotelling–Downs model of spatial competition," Theory and Decision, Springer, vol. 95(2), pages 309-335, August.
    2. Jaeok Park & Doo Hyung Yun, 2023. "Possibilistic beliefs in strategic games," Theory and Decision, Springer, vol. 95(2), pages 205-228, August.
    3. Panos L. Lorentziadis, 2020. "Value-Rationalizability in Auction Bidding," SN Operations Research Forum, Springer, vol. 1(2), pages 1-13, June.

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