Weak assumption and iterative admissibility

Chih-Chun Yang

Journal of Economic Theory, 2015, vol. 158, issue PA, 87-101

Abstract: Brandenburger et al. (2008a) show that rationality and common assumption of rationality (RCAR) is impossible in a complete and continuous type structure. We show, by introducing an alternative notion of assumption, “weak assumption”, that rationality and common weak assumption of rationality (RCWAR) is possible in a complete and continuous type structure. This possibility result provides an epistemic characterization for iterative admissibility.

Keywords: Iterative admissibility; Weak assumption; Common weak assumption of rationality (search for similar items in EconPapers)
JEL-codes: C72 D80 (search for similar items in EconPapers)
Date: 2015
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Citations: View citations in EconPapers (12)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:jetheo:v:158:y:2015:i:pa:p:87-101

DOI: 10.1016/j.jet.2015.03.009

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