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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- Myerson, Roger B., 1997.
"Dual Reduction and Elementary Games,"
Games and Economic Behavior,
Elsevier, vol. 21(1-2), pages 183-202, October.
- Roger B. Myerson, 1995. "Dual Reduction and Elementary Games," Discussion Papers 1133, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
- Robert J. Aumann & Jacques H. Dreze, 2008. "Rational Expectations in Games," American Economic Review, American Economic Association, vol. 98(1), pages 72-86, March.
- AUMANN, Robert J. & DREZE, Jacques H., "undated". "Rational expectations in games," CORE Discussion Papers RP 2011, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
- Aumann, Robert J., 1974. "Subjectivity and correlation in randomized strategies," Journal of Mathematical Economics, Elsevier, vol. 1(1), pages 67-96, March.
- AUMANN, Robert J., "undated". "Subjectivity and correlation in randomized strategies," CORE Discussion Papers RP 167, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
- R. Aumann, 2010. "Subjectivity and Correlation in Randomized Strategies," Levine's Working Paper Archive 389, David K. Levine.
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