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A necessary and sufficient epistemic condition for playing backward induction

  • Balkenborg, Dieter
  • Winter, Eyal

In an epistemic framework due to Aumann we characterize the condition on the rationality of the players that is both necessary and sufficient to imply backward induction in perfect information games in agent form. This condition requires each player to know that the players are rational at later, but not at previous decision nodes.

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File URL: http://www.sciencedirect.com/science/article/B6VBY-3SWXN8S-6/2/037650ea539af9b4312f8c1c3d287cbc
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Article provided by Elsevier in its journal Journal of Mathematical Economics.

Volume (Year): 27 (1997)
Issue (Month): 3 (April)
Pages: 325-345

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Handle: RePEc:eee:mateco:v:27:y:1997:i:3:p:325-345
Contact details of provider: Web page: http://www.elsevier.com/locate/jmateco

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  1. Aumann, Robert J., 1995. "Backward induction and common knowledge of rationality," Games and Economic Behavior, Elsevier, vol. 8(1), pages 6-19.
  2. Fudenberg, Drew & Kreps, David M. & Levine, David K., 1988. "On the robustness of equilibrium refinements," Journal of Economic Theory, Elsevier, vol. 44(2), pages 354-380, April.
  3. David Kreps & Robert Wilson, 1999. "Reputation and Imperfect Information," Levine's Working Paper Archive 238, David K. Levine.
  4. Guth, Werner & Schmittberger, Rolf & Schwarze, Bernd, 1982. "An experimental analysis of ultimatum bargaining," Journal of Economic Behavior & Organization, Elsevier, vol. 3(4), pages 367-388, December.
  5. Rosenthal, Robert W., 1981. "Games of perfect information, predatory pricing and the chain-store paradox," Journal of Economic Theory, Elsevier, vol. 25(1), pages 92-100, August.
  6. W. Guth & R. Schmittberger & B. Schwartz, 2010. "An experimental analysis of ultimatum bargaining," Levine's Working Paper Archive 291, David K. Levine.
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