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Refinements and higher-order beliefs: a unified survey

Author

Listed:
  • Atsushi Kajii

    (University of Tsukuba
    Kwansei Gakuin University)

  • Stephen Morris

    (Northwestern University
    University of Pennsylvania
    Massachusetts Institute of Technology)

Abstract

This paper presents a simple framework that allows us to survey and relate some different strands of the game theory literature. We describe a “canonical” way of adding incomplete information to a complete information game. This framework allows us to give a simple “complete theory” interpretation (Kreps in Game theory and economic modelling. Clarendon Press, Oxford, 1990) of standard normal form refinements such as perfection, and to relate refinements both to the “higher-order beliefs literature” (Rubinstein in Am Econ Rev 79:385–391, 1989; Monderer and Samet in Games Econ Behav 1:170–190, 1989; Morris et al. in Econ J Econ Soc 63:145–157, 1995; Kajii and Morris in Econ J Econ Soc 65:1283–1309, 1997a) and the “payoff uncertainty approach” (Fudenberg et al. in J Econ Theory 44:354–380, 1988; Dekel and Fudenberg in J Econ Theory 52:243–267, 1990).

Suggested Citation

  • Atsushi Kajii & Stephen Morris, 2020. "Refinements and higher-order beliefs: a unified survey," The Japanese Economic Review, Springer, vol. 71(1), pages 7-34, January.
  • Handle: RePEc:spr:jecrev:v:71:y:2020:i:1:d:10.1007_s42973-019-00006-x
    DOI: 10.1007/s42973-019-00006-x
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    References listed on IDEAS

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