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Robust Rationalizability Under Almost Common Certainty Of Payoffs

Author

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  • STEPHEN MORRIS
  • SATORU TAKAHASHI
  • OLIVIER TERCIEUX

Abstract

An action is robustly rationalizable if it is rationalizable for every type who has almost common certainty of payoffs. We illustrate by means of an example that an action may not be robustly rationalizable even if it is weakly dominant, and argue that robust rationalizability is a very stringent refinement of rationalizability. Nonetheless, we show that every strictly rationalizable action is robustly rationalizable. We also investigate how permissive robust rationalizability becomes if we require that players be fully certain of their own payoffs.
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Suggested Citation

  • Stephen Morris & Satoru Takahashi & Olivier Tercieux, 2012. "Robust Rationalizability Under Almost Common Certainty Of Payoffs," The Japanese Economic Review, Japanese Economic Association, vol. 63(1), pages 57-67, March.
    • Handle: RePEc:bla:jecrev:v:63:y:2012:i:1:p:57-67
    DOI: j.1468-5876.2011.00553.x
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    File URL: http://hdl.handle.net/10.1111/j.1468-5876.2011.00553.x
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    Cited by:

    1. Annie Liang, 2019. "Games of Incomplete Information Played By Statisticians," Papers 1910.07018, arXiv.org, revised Jul 2020.
    2. Annie Liang, 2016. "Games of Incomplete Information Played by Statisticians," PIER Working Paper Archive 16-028, Penn Institute for Economic Research, Department of Economics, University of Pennsylvania, revised 01 Jan 2016.
    3. Chen, Yi-Chun & Takahashi, Satoru & Xiong, Siyang, 2022. "Robust refinement of rationalizability with arbitrary payoff uncertainty," Games and Economic Behavior, Elsevier, vol. 136(C), pages 485-504.
    4. Takahashi, Satoru & Tercieux, Olivier, 2020. "Robust equilibrium outcomes in sequential games under almost common certainty of payoffs," Journal of Economic Theory, Elsevier, vol. 188(C).

    More about this item

    JEL classification:

    • C72 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Noncooperative Games
    • D82 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Asymmetric and Private Information; Mechanism Design

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