Characterizing permissibility, proper rationalizability, and iterated admissibility by incomplete information

Shuige Liu ()
Additional contact information
Shuige Liu: Waseda University

International Journal of Game Theory, 2021, vol. 50, issue 1, No 7, 119-148

Abstract: Abstract We characterize three interrelated solution concepts in epistemic game theory: permissibility, proper rationalizability, and iterated admissibility. We define the lexicographic epistemic model in a framework with incomplete information. Based on it, we give two groups of conditions; one characterizes permissibility and proper rationalizability, the other characterizes permissibility in an alternative way and iterated admissibility. In each group, the conditions for the latter are stronger than those for the former, which corresponds to the fact that proper rationalizability and iterated admissibility are incomparable but compatible refinements of permissibility within the complete information framework. The essential difference between the two groups is whether a full belief of rationality is needed.

Keywords: Epistemic game theory; Incomplete information; Lexicographic belief; Permissibility; Proper rationalizability; Iterated admissibility (search for similar items in EconPapers)
Date: 2021
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
http://link.springer.com/10.1007/s00182-020-00742-0 Abstract (text/html)
Access to the full text of the articles in this series is restricted.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:spr:jogath:v:50:y:2021:i:1:d:10.1007_s00182-020-00742-0

Ordering information: This journal article can be ordered from
http://www.springer. ... eory/journal/182/PS2

DOI: 10.1007/s00182-020-00742-0

Access Statistics for this article

International Journal of Game Theory is currently edited by Shmuel Zamir, Vijay Krishna and Bernhard von Stengel

More articles in International Journal of Game Theory from Springer, Game Theory Society
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().