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Interdependent Preferences and Strategic Distinguishability

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

A universal type space of inderdependent expected utility preference types is constructed from high-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 indistuishable 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 laternative solution concepts and strategic relations between types.

(This abstract was borrowed from another version of this item.)

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File URL: http://www.dklevine.com/archive/refs4786969000000000054.pdf
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Paper provided by David K. Levine in its series Levine's Working Paper Archive with number 786969000000000054.

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Date of creation: 20 Mar 2011
Handle: RePEc:cla:levarc:786969000000000054
Contact details of provider: Web page: http://www.dklevine.com/

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  11. Stephen Morris & Satoru Takahashi, 2012. "Games in Preference Form and Preference Rationalizability," Working Papers 1420, Princeton University, Department of Economics, Econometric Research Program..
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  13. Yi-Chun Chen & Alfredo Di Tillio & Eduardo Faingold & Siyang Xiong, 2012. "The Strategic Impact of Higher-Order Beliefs," Levine's Working Paper Archive 786969000000000517, David K. Levine.
  14. Dirk Bergemann & Stephen Morris & Satoru Takahashi, 2010. "Interdependent Preferences and Strategic Distinguishability," Cowles Foundation Discussion Papers 1772R3, Cowles Foundation for Research in Economics, Yale University, revised Aug 2016.
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  25. Brandenburger Adam & Dekel Eddie, 1993. "Hierarchies of Beliefs and Common Knowledge," Journal of Economic Theory, Elsevier, vol. 59(1), pages 189-198, February.
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