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Weak assumption and iterative admissibility

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  • Yang, Chih-Chun

Abstract

Brandenburger et al. (2008a) show that rationality and common assumption of rationality (RCAR) is impossible in a complete and continuous type structure. We show, by introducing an alternative notion of assumption, “weak assumption”, that rationality and common weak assumption of rationality (RCWAR) is possible in a complete and continuous type structure. This possibility result provides an epistemic characterization for iterative admissibility.

Suggested Citation

  • Yang, Chih-Chun, 2015. "Weak assumption and iterative admissibility," Journal of Economic Theory, Elsevier, vol. 158(PA), pages 87-101.
    • Handle: RePEc:eee:jetheo:v:158:y:2015:i:pa:p:87-101
    DOI: 10.1016/j.jet.2015.03.009
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    References listed on IDEAS

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    1. Barelli, Paulo & Galanis, Spyros, 2013. "Admissibility and event-rationality," Games and Economic Behavior, Elsevier, vol. 77(1), pages 21-40.
    2. Adam Brandenburger & Eddie Dekel, 2014. "Hierarchies of Beliefs and Common Knowledge," World Scientific Book Chapters, in: The Language of Game Theory Putting Epistemics into the Mathematics of Games, chapter 2, pages 31-41, World Scientific Publishing Co. Pte. Ltd..
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    4. Keisler, H. Jerome & Lee, Byung Soo, 2011. "Common assumption of rationality," MPRA Paper 34441, University Library of Munich, Germany.
    5. MERTENS, Jean-François & ZAMIR, Shmuel, 1985. "Formulation of Bayesian analysis for games with incomplete information," LIDAM Reprints CORE 608, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
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    7. Adam Brandenburger & Amanda Friedenberg & H. Jerome Keisler, 2014. "Admissibility in Games," World Scientific Book Chapters, in: The Language of Game Theory Putting Epistemics into the Mathematics of Games, chapter 7, pages 161-212, World Scientific Publishing Co. Pte. Ltd..
    8. Samuelson, Larry, 1992. "Dominated strategies and common knowledge," Games and Economic Behavior, Elsevier, vol. 4(2), pages 284-313, April.
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    Citations

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    Cited by:

    1. Geir B. Asheim & Andrés Perea, 2019. "Algorithms for cautious reasoning in games," International Journal of Game Theory, Springer;Game Theory Society, vol. 48(4), pages 1241-1275, December.
    2. Dekel, Eddie & Friedenberg, Amanda & Siniscalchi, Marciano, 2016. "Lexicographic beliefs and assumption," Journal of Economic Theory, Elsevier, vol. 163(C), pages 955-985.
    3. Ziegler, Gabriel & Zuazo-Garin, Peio, 2020. "Strategic cautiousness as an expression of robustness to ambiguity," Games and Economic Behavior, Elsevier, vol. 119(C), pages 197-215.
    4. Burkhard Schipper & Martin Meier & Aviad Heifetz, 2017. "Comprehensive Rationalizability," Working Papers 174, University of California, Davis, Department of Economics.
    5. Heifetz, Aviad & Meier, Martin & Schipper, Burkhard C., 2019. "Comprehensive rationalizability," Games and Economic Behavior, Elsevier, vol. 116(C), pages 185-202.
    6. Catonini, Emiliano & De Vito, Nicodemo, 2024. "Cautious belief and iterated admissibility," Journal of Mathematical Economics, Elsevier, vol. 110(C).
    7. Shuige Liu, 2021. "Characterizing permissibility, proper rationalizability, and iterated admissibility by incomplete information," International Journal of Game Theory, Springer;Game Theory Society, vol. 50(1), pages 119-148, March.
    8. Li, Ying Xue & Schipper, Burkhard C., 2020. "Strategic reasoning in persuasion games: An experiment," Games and Economic Behavior, Elsevier, vol. 121(C), pages 329-367.
    9. Lee, Byung Soo, 2016. "A space of lexicographic preferences," Journal of Mathematical Economics, Elsevier, vol. 65(C), pages 16-25.
    10. Lee, Byung Soo, 2016. "Admissibility and assumption," Journal of Economic Theory, Elsevier, vol. 163(C), pages 42-72.
    11. Petri, Henrik, 2020. "Lexicographic probabilities and robustness," Games and Economic Behavior, Elsevier, vol. 122(C), pages 426-439.

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    More about this item

    Keywords

    Iterative admissibility; Weak assumption; Common weak assumption of rationality;
    All these keywords.

    JEL classification:

    • C72 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Noncooperative Games
    • D80 - Microeconomics - - Information, Knowledge, and Uncertainty - - - General

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