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Decisions in games: why there should be a special exemption from Bayesian rationality

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  • Marco Mariotti

Abstract

I examine the Bayesian foundations of game theory and advance three main theses: (i) that if Bayesianism is to be used in game theory, then simpler versions of it are methodologically preferable to the more sophisticated ones; (ii) that it is dubious whether the Savage (or Anscombe and Aumann) axiom system can yield an axiomatic justification for Bayesianism in game theory; and (iii) that there exist other foundational frameworks for games which are at least as convincing as the Bayesian one.

Suggested Citation

  • Marco Mariotti, 1997. "Decisions in games: why there should be a special exemption from Bayesian rationality," Journal of Economic Methodology, Taylor & Francis Journals, vol. 4(1), pages 43-60.
    • Handle: RePEc:taf:jecmet:v:4:y:1997:i:1:p:43-60
    DOI: 10.1080/13501789700000003
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    References listed on IDEAS

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    1. John C. Harsanyi & Reinhard Selten, 1988. "A General Theory of Equilibrium Selection in Games," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262582384, December.
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    Cited by:

    1. Guilhem Lecouteux, 2018. "Bayesian game theorists and non-Bayesian players," The European Journal of the History of Economic Thought, Taylor & Francis Journals, vol. 25(6), pages 1420-1454, November.
    2. Lauren Larrouy & Guilhem Lecouteux, 2018. "Choosing in a Large World: The Role of Focal Points as a Mindshaping Device," Working Papers halshs-01923244, HAL.
    3. Asheim, Geir B. & Dufwenberg, Martin, 2003. "Admissibility and common belief," Games and Economic Behavior, Elsevier, vol. 42(2), pages 208-234, February.
    4. Lauren Larrouy & Guilhem Lecouteux, 2017. "Mindreading and endogenous beliefs in games," Journal of Economic Methodology, Taylor & Francis Journals, vol. 24(3), pages 318-343, July.

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