Possibility and permissibility
We generalize permissibility (Brandenburger, 1992) to allow for any suitably defined model of preference and definition of possibility. We also prove that the generalized solution concept characterizes rationality, caution, and “common belief" of rationality and caution.
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- Kin Chung Lo, 1999.
"Nash equilibrium without mutual knowledge of rationality,"
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- Kin Chung Lo, 1995. "Nash Equilibrium without Mutual Knowledge of Rationality," Working Papers ecpap-95-04, University of Toronto, Department of Economics.
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306, University of Bonn, Germany.
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"Rational behavior with payoff uncertainty,"
Journal of Economic Theory,
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- repec:ebl:ecbull:v:4:y:2006:i:37:p:1-7 is not listed on IDEAS
- Lo, Kin Chung, 2005. "More likely than unlikely," Mathematical Social Sciences, Elsevier, vol. 49(1), pages 39-53, January.
- repec:cup:cbooks:9780521741231 is not listed on IDEAS
- Mukerji, S., 1995. "A theory of play for games in strategic form when rationality is not common knowledge," Discussion Paper Series In Economics And Econometrics 9519, Economics Division, School of Social Sciences, University of Southampton.
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