An Epistemic Characterisation of Extensive Form Rationalisability

Pierpaolo Battigalli () and Marciano Siniscalchi

No 1999.25, Working Papers from Fondazione Eni Enrico Mattei

Abstract: We use an extensive form, universal type space to provide the following epistemic characterisation of extensive form rationalisability. Say that player i strongly believes event E if i is certain of E conditional on each of her information sets consistent with E. Our main contribution is to show that a strategy profile s is extensive form rationalisable if and only if there is a state in which s is played and (0) everybody is rational, (1) everybody strongly believes (0), (2) everybody strongly believes (0) & (1), (3) everybody strongly believes (0) & (1) & (2), .... This result also allows us to provide sufficient epistemic conditions for the backward induction outcome and to relate extensive form rationalisability and conditional common certainty of rationality.

Keywords: Rationalisability; Extensive Form Games (search for similar items in EconPapers)
JEL-codes: C7 (search for similar items in EconPapers)
Date: 1999-02
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Related works:
Working Paper: An Epistemic Characterization of Extensive Form Rationalizability (1997)
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Persistent link: https://EconPapers.repec.org/RePEc:fem:femwpa:1999.25

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