Towards a Characterization of Rational Expectations
R. J. Aumann and J. H. Drèze (2008) define a rational expectation of a player i in a game G as the expected payo of some type of i in some belief system for G in which common knowledge of rationality and common priors obtain. Our goal is to characterize the set of rational expectations in terms of the game's payoff matrix. We provide such a characterization for a specific class of strategic games, called semi-elementary, which includes Myerson's "elementary" games.
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- R. Aumann, 2010.
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Levine's Working Paper Archive
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- Myerson, Roger B., 1997.
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- Robert J. Aumann & Jacques H. Dreze, 2008.
"Rational Expectations in Games,"
American Economic Review,
American Economic Association, vol. 98(1), pages 72-86, March.
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