AGENT CONNECTEDNESS AND BACKWARD INDUCTION

Christian W. Bach () and Conrad Heilmann ()
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Christian W. Bach: Department of Quantitative Economics, Maastricht University, 6200 MD Maastricht, The Netherlands
Conrad Heilmann: Erasmus Institute for Philosophy and Economics (EIPE), Faculty of Philosophy, Erasmus University Rotterdam, 3000 DR Rotterdam, The Netherlands

International Game Theory Review (IGTR), 2011, vol. 13, issue 02, 195-208

Abstract: We conceive of a player in dynamic games as a set of agents, which are assigned the distinct tasks of reasoning and node-specific choices. The notion of agent connectedness measuring the sequential stability of a player over time is then modeled in an extended type-based epistemic framework. Moreover, we provide an epistemic foundation for backward induction in terms of agent connectedness. Besides, it is argued that the epistemic independence assumption underlying backward induction is stronger than usually presumed.

Keywords: Backward induction; epistemic independence; interactive epistemology; multiple-selves; Subject Classification: C72; Subject Classification: C73 (search for similar items in EconPapers)
JEL-codes: B4 C0 C6 C7 D5 D7 M2 (search for similar items in EconPapers)
Date: 2011
References: View complete reference list from CitEc
Citations: View citations in EconPapers (5)

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DOI: 10.1142/S0219198911002940

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