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Bayesian and consistent assessments

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  • Carlos Pimienta

Abstract

In a Bayesian assessment, beliefs are computed from the strategy profile applying Bayes rule at positive probability information sets. A consistent assessment is the limit point of a sequence of completely mixed Bayesian assessments. We characterize the set of extensive forms for which the sets of Bayesian and consistent assessments coincide. As an illustration of the results, we characterize consistency in some multi-period games with simultaneous actions. Copyright Springer-Verlag Berlin Heidelberg 2014

Suggested Citation

  • Carlos Pimienta, 2014. "Bayesian and consistent assessments," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 55(3), pages 601-617, April.
    • Handle: RePEc:spr:joecth:v:55:y:2014:i:3:p:601-617
    DOI: 10.1007/s00199-013-0760-4
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    More about this item

    Keywords

    Bayesian assessments; Consistent assessments; Sequential equilibrium; Extensive forms; C62; C72; D80;
    All these keywords.

    JEL classification:

    • C62 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Existence and Stability Conditions of Equilibrium
    • C72 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Noncooperative Games
    • D80 - Microeconomics - - Information, Knowledge, and Uncertainty - - - General

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