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Interdependent Preferences and Strategic Distinguishability

Listed author(s):
  • Dirk Bergemann
  • Stephen Morris
  • Satoru Takahashi

A universal type space of interdependent expected utility preference types is constructed from higher-order preference hierarchies describing (i) an agent's (unconditional) preferences over a lottery space; (ii) the agent's preference over Anscombe-Aumann acts conditional on the unconditional preferences; and so on. Two types are said to be strategically indistinguishable if they have an equilibrium action in common in any mechanism that they play. We show that two types are strategically indistinguishable if and only if they have the same preference hierarchy. We examine how this result extends to alternative solution concepts and strategic relations between types.

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Paper provided by David K. Levine in its series Levine's Working Paper Archive with number 661465000000000273.

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Date of creation: 22 Oct 2010
Handle: RePEc:cla:levarc:661465000000000273
Contact details of provider: Web page: http://www.dklevine.com/

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