The Not-So-Absent-Minded Driver

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The Not-So-Absent-Minded Driver

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Oliver Board

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Oliver James Board

Abstract

This 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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Paper provided by University of Oxford, Department of Economics in its series Economics Series Working Papers with number 147.

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Date of creation: 2003
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Handle: RePEc:oxf:wpaper:147

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Article
- Board, Oliver, 2003. "The not-so-absent-minded driver," Research in Economics, Elsevier, vol. 57(3), pages 189-200, September. [Downloadable!] (restricted)

Find related papers by JEL classification:
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

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.:

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. [Downloadable!] (restricted)
Other versions:
- Rubinstein, Ariel, 1995. "On the Interpretation of Decision Problems with Imperfect Recall," Mathematical Social Sciences, Elsevier, vol. 30(3), pages 324-324, December. [Downloadable!] (restricted)
Aumann, Robert J. & Hart, Sergiu & Perry, Motty, 1997. "The Absent-Minded Driver," Games and Economic Behavior, Elsevier, vol. 20(1), pages 102-116, July. [Downloadable!] (restricted)
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. [Downloadable!]
Halpern, Joseph Y., 1997. "On Ambiguities in the Interpretation of Game Trees," Games and Economic Behavior, Elsevier, vol. 20(1), pages 66-96, July. [Downloadable!] (restricted)
Aumann, Robert & Brandenburger, Adam, 1995. "Epistemic Conditions for Nash Equilibrium," Econometrica, Econometric Society, vol. 63(5), pages 1161-80, September. [Downloadable!] (restricted)

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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.)

Sudipta Sarangi & Cary Deck, . "Inducing Absent-Mindedness in the Lab," Departmental Working Papers 2006-09, Department of Economics, Louisiana State University. [Downloadable!]

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