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Invariance and hierarchy-equivalence

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  • Nicodemo De Vito

Abstract

Two type structures are hierarchy-equivalent if they induce the same set of hierarchies of beliefs. This note shows that the behavioral implications of "cautious rationality and common cautious belief in cautious rationality" (Catonini and De Vito 2021) do not vary across hierarchy-equivalent type structures.

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  • Nicodemo De Vito, 2022. "Invariance and hierarchy-equivalence," Papers 2209.01926, arXiv.org.
    • Handle: RePEc:arx:papers:2209.01926
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    1. John C. Harsanyi, 1967. "Games with Incomplete Information Played by "Bayesian" Players, I-III Part I. The Basic Model," Management Science, INFORMS, vol. 14(3), pages 159-182, November.
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    3. Amanda Friedenberg & Martin Meier, 2011. "On the relationship between hierarchy and type morphisms," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 46(3), pages 377-399, April.
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