Reflections on Equilibrium - Ideal Rationality and Analytic Decomposition of Games
Taking seriously the philosophical foundations of classical strategic theories of choice-making we scrutinize to what extent planning on equilibrium strategies can be justified "eductively" among rational players and how this can be utilized to analyze games by their "game-like" sub-structures, in particular by their sub-games in the extensive and by their cells in (agent) normal form. "Material" principles of rational choice and "formal" methodological requirements of consistent theory formation are considered and it is claimed that there can be consistent “conventions of rationality”. Which of the possible conventions will prevail and define rationality may depend though on which of the theories of ideal rationality will be absorbed among rational agents. Once established "conventional rationality" can lead to unique solutions for strategic games.
|Date of creation:|
|Date of revision:|
|Contact details of provider:|| Postal: |
Phone: +49-3641-68 65
Fax: +49-3641-68 69 90
Web page: http://www.econ.mpg.de/
More information through EDIRC
|Order Information:|| Web: http://www.econ.mpg.de/english/research/ESI/discuss.php Email: |
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Aumann, Robert J, 1987.
"Correlated Equilibrium as an Expression of Bayesian Rationality,"
Econometric Society, vol. 55(1), pages 1-18, January.
- Robert J. Aumann, 2010. "Correlated Equilibrium as an expression of Bayesian Rationality," Levine's Working Paper Archive 661465000000000377, David K. Levine.
- R. Aumann, 2010. "Correlated Equilibrium as an expression of Bayesian Rationality," Levine's Bibliography 513, UCLA Department of Economics.
- Norde, H.W. & Potters, J.A.M. & Reijnierse, J.H. & Vermeulen, D., 1996.
"Equilibrium selection and consistency,"
Other publications TiSEM
a5c0103f-677a-4352-8bd1-7, Tilburg University, School of Economics and Management.
- Werner Güth & Hartmut Kliemt, 1995. "Ist die Normalform die normale Form?," Homo Oeconomicus, Institute of SocioEconomics, vol. 12, pages 155-183.
- van Heumen, R. & Peleg, B. & Tijs, S.H. & Borm, P.E.M., 1996.
"Axiomatic characterizations of solutions for Bayesian games,"
Other publications TiSEM
6cc729cb-f5e8-496a-a365-3, Tilburg University, School of Economics and Management.
- van Heumen, R.W.J. & Peleg, B. & Tijs, S.H. & Borm, P.E.M., 1994. "Axiomatic characterizations of solutions for Bayesian games," Research Memorandum FEW 680, Tilburg University, School of Economics and Management.
- Dufwenberg, M. & Norde, H.W. & Reijnierse, J.H. & Tijs, S.H., 2001.
"The consistency principle for set-valued solutions and a new direction for normative game theory,"
Other publications TiSEM
a92b40c8-7807-47db-8abd-a, Tilburg University, School of Economics and Management.
- Martin Dufwenberg & Henk Norde & Hans Reijnierse & Stef Tijs, 2001. "The consistency principle for set-valued solutions and a new direction for normative game theory," Mathematical Methods of Operations Research, Springer, vol. 54(1), pages 119-131, October.
- Dufwenberg, Martin & Norde, Henk & Reijnierse, Hans & Tijs, Stef, 1998. "The Consistency Principle for Set-valued Solutions and a New Direction for Normative Game Theory," Working Paper Series 1998:11, Uppsala University, Department of Economics.
- Dufwenberg, M. & Norde, H. & Reijnierse, H. & Tijs, S., 1998. "The Consistency Principle for Set-Valued Solutions and a New Direction for Normative Game Theory," Papers 1998-11, Uppsala - Working Paper Series.
- Canning, David, 1992. "Rationality, Computability, and Nash Equilibrium," Econometrica, Econometric Society, vol. 60(4), pages 877-88, July.
- Robert Aumann & Adam Brandenburger, 2014.
"Epistemic Conditions for Nash Equilibrium,"
World Scientific Book Chapters,
in: The Language of Game Theory Putting Epistemics into the Mathematics of Games, chapter 5, pages 113-136
World Scientific Publishing Co. Pte. Ltd..
- Aumann, Robert J., 1995. "Backward induction and common knowledge of rationality," Games and Economic Behavior, Elsevier, vol. 8(1), pages 6-19.
- 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.
- Peleg, B. & Tijs, S.H., 1996.
"The consistency principle for games in strategic form,"
Other publications TiSEM
fc27db2d-b84c-44ba-95a1-0, Tilburg University, School of Economics and Management.
- Peleg, Bezalel & Tijs, Stef, 1996. "The Consistency Principle for Games in Strategic Forms," International Journal of Game Theory, Springer, vol. 25(1), pages 13-34.
- Peleg, B. & Tijs, S.H., 1993. "The consistency principle for games in strategic form," Discussion Paper 1993-6, Tilburg University, Center for Economic Research.
- Peleg, B. & Tijs, S., 1993. "The Consistency Principle for Games in Strategic Form," Papers 9306, Tilburg - Center for Economic Research.
- Morgenstern, Oskar, 1972. "Descriptive, Predictive and Normative Theory," Kyklos, Wiley Blackwell, vol. 25(4), pages 699-714.
- Sugden, Robert, 1991. "Rational Choice: A Survey of Contributions from Economics and Philosophy," Economic Journal, Royal Economic Society, vol. 101(407), pages 751-85, July.
- John C. Harsanyi & Reinhard Selten, 1988. "A General Theory of Equilibrium Selection in Games," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262582384, June.
- Güth, Werner & Kliemt, Hartmut, 2001. "From full to bounded rationality: The limits of unlimited rationality," SFB 373 Discussion Papers 2001,12, Humboldt University of Berlin, Interdisciplinary Research Project 373: Quantification and Simulation of Economic Processes.
- Harsanyi, John C, 1995.
"Games with Incomplete Information,"
American Economic Review,
American Economic Association, vol. 85(3), pages 291-303, June.
- Pearce, David G, 1984. "Rationalizable Strategic Behavior and the Problem of Perfection," Econometrica, Econometric Society, vol. 52(4), pages 1029-50, July.
- Werner G, th & Bezalel Peleg, 2001. "When will payoff maximization survive? An indirect evolutionary analysis," Journal of Evolutionary Economics, Springer, vol. 11(5), pages 479-499.
- Rustem, Berc & Velupillai, Kumaraswamy, 1990. "Rationality, computability, and complexity," Journal of Economic Dynamics and Control, Elsevier, vol. 14(2), pages 419-432, May.
- Gode, Dhananjay K & Sunder, Shyam, 1993. "Allocative Efficiency of Markets with Zero-Intelligence Traders: Market as a Partial Substitute for Individual Rationality," Journal of Political Economy, University of Chicago Press, vol. 101(1), pages 119-37, February.
- Rubinstein, Ariel, 1989. "The Electronic Mail Game: Strategic Behavior under "Almost Common Knowledge."," American Economic Review, American Economic Association, vol. 79(3), pages 385-91, June.
When requesting a correction, please mention this item's handle: RePEc:esi:discus:2003-08. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Karin Richter)The email address of this maintainer does not seem to be valid anymore. Please ask Karin Richter to update the entry or send us the correct address
If references are entirely missing, you can add them using this form.