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Admissibility and common knowledge Author info | Abstract | Publisher info | Download info | Related research | Statistics Asheim, G.B.
Dufwenberg, M. (Tilburg University, Center for Economic Research)
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The implications of assuming that it is commonly known that players consider only admissible best responses are investigated. Within a states-of-the-world model where a state, for each player, determines a strategy set rather than a strategy the concept of fully permissible sets is defined. General existence is established, and a finite algorithm (eliminating strategy sets instead of strategies) is provided. The concept refines rationalizability as well as the Dekel-Fudenberg procedure, and captures a notion of forward induction. When players consider all best responses, the same framework can be used to define the concept of rationalizable sets, which characterizes rationalizability.
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Paper provided by Tilburg University, Center for Economic Research in its series Discussion Paper with number
16.
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Date of creation: 1996Date of revision:
Handle: RePEc:dgr:kubcen:199616Contact details of provider: Web page: http://center.uvt.nl
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References listed on IDEAS 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.: Battigalli, Pierpaolo, 1996.
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Other versions:
Full
references 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.)
Pierpaolo Battigalli & Marciano Siniscalchi, .
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1999.25, Fondazione Eni Enrico Mattei.
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Other versions: Herings, P.J.J. & Vannetelbosch, V.J., 1997.
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Discussion Paper
3, Tilburg University, Center for Economic Research.
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Other versions: Vannetelbosch, Vincent J., 1996.
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Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES) Discussion Paper
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[Downloadable!]
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