The Not-So-Absent-Minded Driver
AbstractThis paper starts with a re-examination of Piccione and Rubinstein`s Absent-Minded Driver problem, and suggests a novel interpretation of Aumann, Hart and Perry`s notion of action-optimality. We then consider several variants of the original problem in which the assumption that the player`s information sets partition the set of his decision nodes is relaxed. This relaxation enables us to construct a counter-example to Piccione and Rubinstein`s result that planning-optimal strategies are always action-optimal. We also show that an agent with more information may do worse than an agent with less.
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Bibliographic InfoPaper provided by University of Oxford, Department of Economics in its series Economics Series Working Papers with number 147.
Date of creation: 01 Mar 2003
Date of revision:
absentmindedness; action optimality;
Other versions of this item:
- C72 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Noncooperative Games
- D81 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Criteria for Decision-Making under Risk and Uncertainty
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- Aumann, Robert J. & Hart, Sergiu & Perry, Motty, 1997. "The Absent-Minded Driver," Games and Economic Behavior, Elsevier, vol. 20(1), pages 102-116, July.
- Aumann, Robert & Brandenburger, Adam, 1995. "Epistemic Conditions for Nash Equilibrium," Econometrica, Econometric Society, vol. 63(5), pages 1161-80, September.
- Oliver Board, 2002. "The Deception of the Greeks: Generalizing the Information Structure of Extensive Form Games," Economics Series Working Papers 137, University of Oxford, Department of Economics.
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- Piccione, Michele & Rubinstein, Ariel, 1997.
"On the Interpretation of Decision Problems with Imperfect Recall,"
Games and Economic Behavior,
Elsevier, vol. 20(1), pages 3-24, July.
- Rubinstein, Ariel, 1995. "On the Interpretation of Decision Problems with Imperfect Recall," Mathematical Social Sciences, Elsevier, vol. 30(3), pages 324-324, December.
- Sudipta Sarangi & Cary Deck, . "Inducing Absent-Mindedness in the Lab," Departmental Working Papers 2006-09, Department of Economics, Louisiana State University.
- Oliver Board, 2002.
"Dynamic Interactive Epistemology,"
Economics Series Working Papers
125, University of Oxford, Department of Economics.
- Jean Baratgin & Bernard Walliser, 2010. "Sleeping Beauty and the absent-minded driver," Theory and Decision, Springer, vol. 69(3), pages 489-496, September.
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