A Syntactic Approach to Rationality in Games
AbstractWe consider strategic-form games with ordinal payoffs and provide a syntactic analysis of common belief/knowledge of rationality, which we define axiomatically. Two axioms are considered. The first says that a player is irrational if she chooses a particular strategy while believing that another strategy is better. We show that common belief of this weak notion of rationality characterizes the iterated deletion of pure strategies that are strictly dominated by pure strategies. The second axiom says that a player is irrational if she chooses a particular strategy while believing that a different strategy is at least as good and she considers it possible that this alternative strategy is actually better than the chosen one. We show that common knowledge of this stronger notion of rationality characterizes the restriction to pure strategies of the iterated deletion procedure introduced by Stalnaker (1994).
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
Bibliographic InfoPaper provided by University of California, Davis, Department of Economics in its series Working Papers with number 71.
Date of creation: 27 Jan 2007
Date of revision:
rationality; common belief; rationalizability; dominated strategies; game logic; frame characterization;
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Werlang, Sérgio Ribeiro da Costa & Chin-Chiu Tan, Tommy, 1987.
"The Bayesian Foundations of Solution Concepts of Games,"
Economics Working Papers (Ensaios Economicos da EPGE)
111, FGV/EPGE Escola Brasileira de Economia e Finanças, Getulio Vargas Foundation (Brazil).
- Tan, Tommy Chin-Chiu & da Costa Werlang, Sergio Ribeiro, 1988. "The Bayesian foundations of solution concepts of games," Journal of Economic Theory, Elsevier, vol. 45(2), pages 370-391, August.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Scott Dyer).
If references are entirely missing, you can add them using this form.