Economics at your fingertips  

An indistinguishability result on rationalizability under general preferences

Yi-Chun Chen () and Xiao Luo ()

Economic Theory, 2012, vol. 51, issue 1, 12 pages

Abstract: In this paper, we show that, in the class of games where each player’s strategy space is compact Hausdorff and each player’s payoff function is continuous and “concave-like,” rationalizability in a variety of general preference models yields the unique set of outcomes of iterated strict dominance. The result implies that rationalizable strategic behavior in these preference models is observationally indistinguishable from that in the subjective expected utility model, in this class of games. Our indistinguishability result can be applied not only to mixed extensions of finite games, but also to other important applications in economics, for example, the Cournot–oligopoly model. Copyright Springer-Verlag 2012

Keywords: Rationalizability; Iterated dominance; General preferences; C70; D82 (search for similar items in EconPapers)
Date: 2012
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (9) Track citations by RSS feed

Downloads: (external link) (text/html)
Access to full text is restricted to subscribers.

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:

Ordering information: This journal article can be ordered from
http://www.springer. ... eory/journal/199/PS2

DOI: 10.1007/s00199-010-0596-0

Access Statistics for this article

Economic Theory is currently edited by Nichoals Yanneils

More articles in Economic Theory from Springer, Society for the Advancement of Economic Theory (SAET) Contact information at EDIRC.
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().

Page updated 2021-04-06
Handle: RePEc:spr:joecth:v:51:y:2012:i:1:p:1-12