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The Equivalence of the Dekel-Fudenberg Iterative Procedure and Weakly Perfect Rationalizability

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Author Info
P. Jean-Jacques Herings (Dept. Econometrics & Center, Tilburg Univ.)
Vincent J. Vannetelbosch (IEP, Basque Country University)

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Abstract

Two approaches have been proposed in the literature to refine the rationalizability solution concept: either assuming that players make small errors when playing their strategies, or assuming that there is a small amount of payoff uncertainty. We show that both approaches lead to the same refinement if errors are made according to the concept of weakly perfect rationalizability, and there is payoff uncertainty as in Dekel and Fudenberg [Journal of Economic Theory 52 (1990), 243-267]. For both cases, the strategies that survive are obtained by starting with one round of elimination of weakly dominated strategies followed by many rounds of elimination of strictly dominated strategies.

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File URL: http://cowles.econ.yale.edu/P/cd/d11b/d1173.pdf
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Paper provided by Cowles Foundation, Yale University in its series Cowles Foundation Discussion Papers with number 1173.

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Length: 11 pages
Date of creation: Mar 1998
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Handle: RePEc:cwl:cwldpp:1173

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Related research
Keywords: Rationalizability; refinements;

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Find related papers by JEL classification:
C72 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Noncooperative Games

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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.:

  1. Dekel, Eddie & Fudenberg, Drew, 1990. "Rational behavior with payoff uncertainty," Journal of Economic Theory, Elsevier, vol. 52(2), pages 243-267, December. [Downloadable!] (restricted)
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  2. Herings, P.J.J. & Vannetelbosch, V.J., 1997. "Refinements of rationalizability for normal-form games," Discussion Paper 3, Tilburg University, Center for Economic Research. [Downloadable!]
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  3. Bernheim, B Douglas, 1984. "Rationalizable Strategic Behavior," Econometrica, Econometric Society, vol. 52(4), pages 1007-28, July. [Downloadable!] (restricted)
  4. Pearce, David G, 1984. "Rationalizable Strategic Behavior and the Problem of Perfection," Econometrica, Econometric Society, vol. 52(4), pages 1029-50, July. [Downloadable!] (restricted)
  5. Ben-Porath, Elchanan, 1997. "Rationality, Nash Equilibrium and Backwards Induction in Perfect-Information Games," Review of Economic Studies, Blackwell Publishing, vol. 64(1), pages 23-46, January. [Downloadable!] (restricted)
  6. Brandenburger, Adam & Dekel, Eddie, 1987. "Rationalizability and Correlated Equilibria," Econometrica, Econometric Society, vol. 55(6), pages 1391-1402, November. [Downloadable!] (restricted)
  7. HERINGSÊJean Jacques, VANNETELBOSCHÊVincent,, 1997. "Refinements of rationalizability for normal-form games," CORE Discussion Papers 1997002, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
  8. Gul, Faruk, 1996. "Rationality and Coherent Theories of Strategic Behavior," Journal of Economic Theory, Elsevier, vol. 70(1), pages 1-31, July. [Downloadable!] (restricted)
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Cited by:
(explanations, 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.)

  1. Ana MAULEON & Vincent J. VANNETELBOSCH, 2001. "Bargaining with Endogenous Deadlines," Discussion Papers (IRES - Institut de Recherches Economiques et Sociales) 2001021, Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES). [Downloadable!]
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