Universal interactive preferences
We prove that a universal preference type space exists under much more general conditions than those postulated by Epstein and Wang (1996). To wit, it is enough that preferences can be encoded by a countable collection of continuous functionals, while the preferences themselves need not necessarily be continuous or regular, like, e.g., in the case of lexicographic preferences. The proof relies on a far-reaching generalization of a method developed by Heifetz and Samet (1998).
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- Heifetz, Aviad & Samet, Dov, 1998.
"Topology-Free Typology of Beliefs,"
Journal of Economic Theory,
Elsevier, vol. 82(2), pages 324-341, October.
- Di Tillio, Alfredo, 2008.
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- Willemien Kets, 2012. "Bounded Reasoning and Higher-Order Uncertainty," Discussion Papers 1547, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
- Heifetz, Aviad, 1993. "The Bayesian Formulation of Incomplete Information--The Non-compact Case," International Journal of Game Theory, Springer, vol. 21(4), pages 329-338.
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- John C Harsanyi, 1997. "Games with incomplete information played by "bayesian" players," Levine's Working Paper Archive 1175, David K. Levine.
- Efe A. Ok & Pietro Ortoleva & Gil Riella, 2012. "Incomplete Preferences Under Uncertainty: Indecisiveness in Beliefs versus Tastes," Econometrica, Econometric Society, vol. 80(4), pages 1791-1808, 07.
- Chen, Yi-Chun, 2010. "Universality of the Epstein-Wang type structure," Games and Economic Behavior, Elsevier, vol. 68(1), pages 389-402, January.
- Pintér, Miklós & Udvari, Zsolt, 2011. "Generalized type spaces," MPRA Paper 34107, University Library of Munich, Germany.
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