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Awareness as an Equilibrium Notion: Normal-Form Games

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Jernej Copic ()
Andrea Galeotti ()

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Abstract

We study normal-form games where parts of the games may not be common knowledge. Agents may be aware only of some facts describing the game. An awareness architecture is given by agents' awareness, and an infinite regress of conjectures about other agents and their conjectures. The problem is specified by the true underlying normal-form game, and by the set of possible awareness architectures. Awareness equilibrium is given by a feasible awareness architecture for each agent, strategies that are played and these strategies have to be consistent with the awareness architectures and agents' rationality. We first study games with complete information, where each player may be aware of a subset of the set of possible actions. We then study games with incomplete information, where each player may be aware of a subset of the set of types and probability over types. Our results illustrate how a departure from the assumption of common knowledge alters equilibium predictions.

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Paper provided by University of Essex, Department of Economics in its series Economics Discussion Papers with number 614.

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Date of creation: 08 Aug 2006
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Handle: RePEc:esx:essedp:614

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  1. Rubinstein Ariel & Wolinsky Asher, 1994. "Rationalizable Conjectural Equilibrium: Between Nash and Rationalizability," Games and Economic Behavior, Elsevier, vol. 6(2), pages 299-311, March. [Downloadable!] (restricted)
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  2. Aviad Heifetz & Martin Meier & Burkhard C. Schipper, 2005. "Interactive Unawareness," Discussion Papers 52, SFB/TR 15 Governance and the Efficiency of Economic Systems, Free University of Berlin, Humboldt University of Berlin, University of Bonn, University of Mannheim, University of Munich. [Downloadable!]
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  3. Fudenberg, Drew & Levine, David K, 1993. "Self-Confirming Equilibrium," Econometrica, Econometric Society, vol. 61(3), pages 523-45, May. [Downloadable!] (restricted)
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  4. Jackson, Matthew O. & Kalai, Ehud, 1997. "Social Learning in Recurring Games," Games and Economic Behavior, Elsevier, vol. 21(1-2), pages 102-134, October. [Downloadable!] (restricted)
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  5. Feinberg, Yossi, 2005. "Games with Incomplete Awareness," Research Papers 1894, Stanford University, Graduate School of Business. [Downloadable!]
  6. Joseph Y. Halpern, 2000. "Alternative Semantics for Unawareness," Game Theory and Information 0004010, EconWPA. [Downloadable!]
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  7. Modica, Salvatore & Rustichini, Aldo, 1999. "Unawareness and Partitional Information Structures," Games and Economic Behavior, Elsevier, vol. 27(2), pages 265-298, May. [Downloadable!] (restricted)
  8. Eddie Dekel & Barton L. Lipman & Aldo Rustichini, 1998. "Standard State-Space Models Preclude Unawareness," Econometrica, Econometric Society, vol. 66(1), pages 159-174, January.
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  1. Heifetz, Aviad & Meier, Martin & Schipper, Burkhard C., 2006. "A Canonical Model for Interactive Unawareness," Working Papers 05-7, University of California at Davis, Department of Economics. [Downloadable!]
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