Theories of Coalitional Rationality
AbstractThis paper generalizes the concept of best response to coalitions of players and offers epistemic definitions of coalitional rationalizability in normal form games. The (best) response of a coalition is defined to be an operator from sets of conjectures to sets of strategies. A strategy is epistemic coalitionally rationalizable if it is consistent with rationality and common certainty that every coalition is rational. A characterization of this solution set is provided for operators satisfying four basic properties. Special attention is devoted to an operator that leads to a solution concept that is generically equivalent to the iteratively defined concept of coalitional rationalizability.
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Bibliographic InfoPaper provided by Harvard University Department of Economics in its series Scholarly Articles with number 3204917.
Date of creation: 2009
Date of revision:
Publication status: Published in Journal of Economic Theory
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