In [G. Bonanno, Rational choice and AGM belief revision, Artificial Intelligence, 2009] a semantics for one-stage AGM belief revision was proposed based on choice frames, borrowed from the rational choice literature. In this paper we extend the semantics of choice frames to deal with iterated belief revision and use the corresponding structures to analyze extensive-form games. Choice frames can be used to represent a player's initial beliefs and disposition to change those beliefs when informed that it is her turn to move. If the frame satisfies AGM-consistency and a natural postulate for iterated belief revision, then it is rationalizable by a total pre-order on the set of histories. We show that three properties of this total pre-order, together with the hypothesis of agreement among players, provide a characterization of the notion of consistent assessment, which is the central component of the notion of sequential equilibrium proposed by Kreps and Wilson [Econometrica, 1982].
Download Info
To download:
If you experience problems downloading a file, check if you have the
proper application to
view it first. Information about this may be contained
in the File-Format links below. 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.
Publisher Info
Paper provided by University of California at Davis, Department of Economics in its series Working Papers with number
09-14.