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Deductive Reasoning in Extensive Games

  • Geir B. Asheim
  • Martin Dufwenberg

We justify the application to extensive games of a model of deductive reasoning based on three key features: 'caution', 'full belief of opponent rationality', and 'no extraneous restrictions on beliefs'. We apply the model to several examples, and show that it yields novel economic insights. The approach supports forward induction, without necessarily promoting backward induction. Copyright 2003 Royal Economic Society.

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Article provided by Royal Economic Society in its journal The Economic Journal.

Volume (Year): 113 (2003)
Issue (Month): 487 (04)
Pages: 305-325

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Handle: RePEc:ecj:econjl:v:113:y:2003:i:487:p:305-325
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  1. van Damme, Eric, 1989. "Stable equilibria and forward induction," Journal of Economic Theory, Elsevier, vol. 48(2), pages 476-496, August.
  2. Mailath, George J & Samuelson, Larry & Swinkels, Jeroen M, 1993. "Extensive Form Reasoning in Normal Form Games," Econometrica, Econometric Society, vol. 61(2), pages 273-302, March.
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  14. Lawrence Blume & Adam Brandenburger & Eddie Dekel, 2014. "Lexicographic Probabilities and Choice Under Uncertainty," World Scientific Book Chapters, in: The Language of Game Theory Putting Epistemics into the Mathematics of Games, chapter 6, pages 137-160 World Scientific Publishing Co. Pte. Ltd..
  15. P. Battigalli & M. Siniscalchi, 1999. "Interactive Beliefs and Forward Induction," Princeton Economic Theory Papers 99f3, Economics Department, Princeton University.
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  20. Asheim,G.B., 1999. "On the epistemic foundation for backward induction," Memorandum 30/1999, Oslo University, Department of Economics.
  21. Borgers, Tilman & Samuelson, Larry, 1992. ""Cautious" Utility Maximization and Iterated Weak Dominance," International Journal of Game Theory, Springer, vol. 21(1), pages 13-25.
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