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Periodic strategies and rationalizability in perfect information 2-Player strategic form games

  • Oikonomou, V.K.
  • Jost, J
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    We define and study periodic strategies in two player finite strategic form games. This concept can arise from some epistemic analysis of the rationalizability concept of Bernheim and Pearce. We analyze in detail the pure strategies and mixed strategies cases. In the pure strategies case, we prove that every two player finite action game has at least one periodic strategy, making the periodic strategies an inherent characteristic of these games. Applying the algorithm of periodic strategies in the case where mixed strategies are used, we find some very interesting outcomes with useful quantitative features for some classes of games. Particularly interesting are the implications of the algorithm to collective action games, for which we were able to establish the result that the collective action strategy can be incorporated in a purely non-cooperative context. Moreover, we address the periodicity issue for the case the players have a continuum set of strategies available. We also discuss whether periodic strategies can imply any sort of cooperativity. In addition, we put the periodic strategies in an epistemic framework.

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    File URL: http://mpra.ub.uni-muenchen.de/48117/1/MPRA_paper_48117.pdf
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    Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 48117.

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    Date of creation: 08 Jul 2013
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    Handle: RePEc:pra:mprapa:48117
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    1. Battigalli, Pierpaolo, 1996. "Strategic Independence and Perfect Bayesian Equilibria," Journal of Economic Theory, Elsevier, vol. 70(1), pages 201-234, July.
    2. Pierpaolo Battigalli, . "Hierarchies of Conditional Beliefs and Interactive Epistemology in Dynamic Games," Working Papers 111, IGIER (Innocenzo Gasparini Institute for Economic Research), Bocconi University.
    3. Battigalli, Pierpaolo & Siniscalchi, Marciano, 2002. "Strong Belief and Forward Induction Reasoning," Journal of Economic Theory, Elsevier, vol. 106(2), pages 356-391, October.
    4. Srihari Govindan & Robert Wilson, 2006. "On Forward Induction," Levine's Working Paper Archive 321307000000000618, David K. Levine.
    5. Rubinstein, Ariel, 1991. "Comments on the Interpretation of Game Theory," Econometrica, Econometric Society, vol. 59(4), pages 909-24, July.
    6. Tan, Tommy Chin-Chiu & da Costa Werlang, Sergio Ribeiro, 1988. "The Bayesian foundations of solution concepts of games," Journal of Economic Theory, Elsevier, vol. 45(2), pages 370-391, August.
    7. Bernheim, B Douglas, 1984. "Rationalizable Strategic Behavior," Econometrica, Econometric Society, vol. 52(4), pages 1007-28, July.
    8. Drew Fudenberg & Eddie Dekel, 1987. "Rational Behavior with Payoff Uncertainty," Working papers 471, Massachusetts Institute of Technology (MIT), Department of Economics.
    9. Drew Fudenberg & Jean Tirole, 1991. "Game Theory," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262061414, June.
    10. Geir B. Asheim, 2002. "Proper rationalizability in lexicographic beliefs," International Journal of Game Theory, Springer, vol. 30(4), pages 453-478.
    11. Stalnaker, Robert, 1998. "Belief revision in games: forward and backward induction1," Mathematical Social Sciences, Elsevier, vol. 36(1), pages 31-56, July.
    12. Philip J. Reny, 1992. "Rationality in Extensive-Form Games," Journal of Economic Perspectives, American Economic Association, vol. 6(4), pages 103-118, Fall.
    13. Frank Schuhmacher, 1999. "Proper rationalizability and backward induction," International Journal of Game Theory, Springer, vol. 28(4), pages 599-615.
    14. Battigalli, Pierpaolo, 1997. "On Rationalizability in Extensive Games," Journal of Economic Theory, Elsevier, vol. 74(1), pages 40-61, May.
    15. Pearce, David G, 1984. "Rationalizable Strategic Behavior and the Problem of Perfection," Econometrica, Econometric Society, vol. 52(4), pages 1029-50, July.
    16. Perea Andrés, 2003. "Rationalizability and Minimal Complexity in Dynamic Games," Research Memorandum 047, Maastricht University, Maastricht Research School of Economics of Technology and Organization (METEOR).
    17. Epstein, Larry G & Wang, Tan, 1996. ""Beliefs about Beliefs" without Probabilities," Econometrica, Econometric Society, vol. 64(6), pages 1343-73, November.
    18. repec:cup:cbooks:9781107008915 is not listed on IDEAS
    19. van Damme, E.E.C., 1984. "A relation between perfect equilibria in extensive form games and proper equilibria in normal form games," Other publications TiSEM 3734d89e-fd5c-4c80-a230-5, Tilburg University, School of Economics and Management.
    20. repec:cup:cbooks:9781107401396 is not listed on IDEAS
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