Non-Bayesian correlated equilibrium as an expression of non-Bayesian rationality

John Hillas and Dov Samet

Games and Economic Behavior, 2022, vol. 135, issue C, 1-15

Abstract: We study new non-Bayesian solutions of games in strategic form, based on four notions of dominance: weak or strict domination by either a pure or a mixed strategy. For each of these types of dominance, d, we define a family of sets of strategy profiles, called d-correlated equilibria. We study the structure and properties of these families. A player is d-dominance rational when she does not play a strategy that is d-dominated relative to what she knows about the play of the other players. A set of profiles is a d-correlated equilibrium if and only if it is the set of profiles played in a model where d-dominance rationality is commonly known. When d denotes strict domination by a mixed strategy, a set of profiles is a d-correlated equilibrium if and only if it is the set of profiles played in a model where Bayesian rationality is commonly known.

Keywords: Dominance rationality; Strict dominance; Weak dominance; Common knowledge of rationality; Correlated equilibrium (search for similar items in EconPapers)
Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:eee:gamebe:v:135:y:2022:i:c:p:1-15

DOI: 10.1016/j.geb.2022.05.005

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