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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- Roger B. Myerson, 1995.
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1133, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
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CORE Discussion Papers RP
-2011, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
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