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Evidential equilibria in static games

  • Sanjit Dhami

    ()

  • ali al-Nowaihi

    ()

Under uncertainty about what others will do, evidence suggests that people often use evidential reasoning (ER), i.e., they assign diagnostic significance to their own actions in forming beliefs about the actions of others. ER successfully explains the evidence from many important games. We provide a formal theoretical framework for discussing ER by proposing evidential games and the relevant solution concept evidential equilibrium (EE). We derive the relation between a Nash equilibrium and an EE. We apply EE to several common games including the prisoners’ dilemma and oligopoly games.

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File URL: http://www.le.ac.uk/economics/research/repec/lec/leecon/dp12-15.pdf
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Paper provided by Department of Economics, University of Leicester in its series Discussion Papers in Economics with number 12/15.

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Date of creation: Jul 2012
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Handle: RePEc:lec:leecon:12/15
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  1. Aumann, Robert & Brandenburger, Adam, 1995. "Epistemic Conditions for Nash Equilibrium," Econometrica, Econometric Society, vol. 63(5), pages 1161-80, September.
  2. Till Requate & Israel Waichman, 2011. "“A profit table or a profit calculator?” A note on the design of Cournot oligopoly experiments," Experimental Economics, Springer;Economic Science Association, vol. 14(1), pages 36-46, March.
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  7. Robert J Aumann, 1999. "Agreeing to Disagree," Levine's Working Paper Archive 512, David K. Levine.
  8. Grätz, Silvia & Darai, Donja, 2011. "Determinants of Successful Cooperation in a Face-to-Face Social Dilemma," Annual Conference 2011 (Frankfurt, Main): The Order of the World Economy - Lessons from the Crisis 48702, Verein für Socialpolitik / German Economic Association.
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