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From IGIER (Innocenzo Gasparini Institute for Economic Research), Bocconi University
via Rontgen, 1 - 20136 Milano (Italy).

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679: Belief change, Rationality, and Strategic Reasoning in Sequential Games Downloads
Pierpaolo Battigalli, Emiliano Catonini and Julien Manili
678: Information Flows and Memory in Games Downloads
Pierpaolo Battigalli and Nicolò Generoso
677: The Hitchhiker’s Guide to Markup Estimation Downloads
Maarten De Ridder, Basile Grassi and Giovanni Morzenti
676: Does the Cost of Private Debt Respond to Monetary Policy? Heteroskedasticity-Based Identification in a Model with Regimes Downloads
Massimo Guidolin, Valentina Massagli and Manuela Pedio
675: Optimal Market Asset Pricing Downloads
Roberto Riccó, Barbara Rindi and Duane J. Seppi
674: The Status Quo and Belief Polarization of Inattentive Agents: Theory and Experiment Downloads
Vladimír Novák, Andrei Matveenko and Silvio Ravaioli
673: STRANGER DUNGEONS -2d6 variant rules for Swords & Wizardry Downloads
Alberto Maccheroni and Fabio Maccheroni
672: Grantmaking Downloads
Marco Ottaviani
671: International Trade and Innovation Dynamics with Endogenous Markups Downloads
Laurent Cavenaile, Pau Roldan-Blanco and Tom Schmitz
670: Economic Shocks and Populism: The Political Implications of Reference-Dependent Preferences Downloads
Fausto Panunzi, Nicola Pavoni and Guido Tabellini
669: A Theory of Power Wars Downloads
Helios Herrera, Massimo Morelli and Salvatore Nunnari
668: Making Decisions under Model Misspecification Downloads
Simone Cerreia-Vioglio, Lars Hansen, Fabio Maccheroni and Massimo Marinacci
667: Mildly Explosive Dynamics in U.S. Fixed Income Markets Downloads
Silvio Contessi, Pierangelo De Pace and Massimo Guidolin
666: Uncertainty and decision-making during a crisis: How to make policy decisions in the COVID-19 context? Downloads
Loïc Berger, Nicolas Berger, Valentina Bosetti, Itzhak Gilboa, Lars Hansen, Christopher Jarvis, Massimo Marinacci and Richard D. Smith
665: Terrorism Financing, Recruitment and Attacks Downloads
Nicola Limodio
664: Positive Spillovers from Negative Campaigning Downloads
Vincenzo Galasso, Tommaso Nannicini and Salvatore Nunnari
663: Multinomial logit processes and preference discovery: outside and inside the black box Downloads
Simone Cerreia-Vioglio, Fabio Maccheroni and Massimo Marinacci
662: Robust Opinion Aggregation and its Dynamics Downloads
Simone Cerreia-Vioglio, Roberto Corrao and Giacomo Lanzani
661: Epidemics and Trust: The Case of the Spanish Flu Downloads
Arnstein Aassve, Guido Alfani, Francesco Gandolfi and Marco Le Moglie
660: Information, Liquidity, and Dynamic Limit Order Markets Downloads
Roberto Riccò, Barbara Rindi and Duane J. Seppi
659: Terrorist Attacks, Cultural Incidents and the Vote for Radical Parties: Analyzing Text from Twitter Downloads
Francesco Giavazzi, Felix Iglhaut, Giacomo Lemoli and Gaia Rubera
658: Signaling Covertly Acquired Information Downloads
Mehmet Ekmekci and Nenad Kos
657: Experimental Cost of Information Downloads
Tommaso Denti, Massimo Marinacci and Aldo Rustichini
656: Equilibria of nonatomic anonymous games Downloads
Simone Cerreia-Vioglio, Fabio Maccheroni and David Schmeidler
655: Bureaucrat Allocation in the Public Sector: Evidence from the World Bank Downloads
Nicola Limodio
655: Behavioral Equivalence of Extensive Game Structures Downloads
Pierpaolo Battigalli, Paolo Leonetti and Fabio Maccheroni
654: Tying in evolving industries, when future entry cannot be deterred Downloads
Chiara Fumagalli and Massimo Motta
653: Economic Rationality: Investigating the Links between Uncertainty, Complexity, and Sophistication Downloads
Ilke Aydogan, Loïc Berger and Valentina Bosetti
651: Asset Pricing vs Asset Expected Returning in Factor Models Downloads
Carlo Favero and Alessandro Melone
650: Audi Alteram Partem: An Experiment on Selective Exposure to Information Downloads
Salvatore Nunnari and Giovanni Montari
649: Dynamic Legislative Bargaining with Veto Power: Theory and Experiments Downloads
Salvatore Nunnari
648: Peer Networks and Entrepreneurship: a Pan-African RCT Downloads
Fernando Vega-Redondo, Paolo Pin, Diego Ubfal, Cristiana Benedetti-Fasil, Charles Brummitt, Gaia Rubera, Dirk Hovy and Tommaso Fornaciari
647: Intertemporal Evidence on the Strategy of Populism Downloads
Gloria Gennaro, Giampaolo Lecce and Massimo Morelli
646: Psychological Game Theory Downloads
Pierpaolo Battigalli and Martin Dufwenberg
645: The Impact of Soft-Skills Training for Entrepreneurs in Jamaica Downloads
Diego Ubfal, Irani Arraiz, Diether Beuermann, Michael Frese, Alessandro Maffioli and Daniel Verch
644: Revenue vs Expenditure Based Fiscal Consolidation: The Pass-Trough from Federal Cuts to Local Taxes Downloads
Luigi Marattin, Tommaso Nannicini and Francesco Porcelli
643: Partial Norms Downloads
Giovanna d’Adda, Martin Dufwenberg, Francesco Passarelli and Guido Tabellini
642: Incorporating Belief-Dependent Motivation in Games Abstract:Psychological game theory (PGT), introduced by Geanakoplos, Pearce & Stacchetti (1989) and significantly generalized by Battigalli & Dufwenberg (2009), extends the standard gametheoretic framework by letting players' utility at endnodes depend on their interactive beliefs. While it is understood that a host of applications that model and/or test the role of emotional and other psychological forces find their home in PGT, the framework is abstract andcomprises complex mathematical objects, such as players' infinite hierarchies of beliefs. Thus,PGT provides little guidance on how to model specific belief-dependent motivations and usethem in game theoretic analysis. This paper takes steps to fill this gap. Some aspects are simplified - e.g., which beliefs matter - but others are refined and brought closer to applications by providing more structure. We start with belief-dependent motivations and showhow to embed them in game forms to obtain psychological games. We emphasize the role oftime and of the perception of players' intentions. We take advantage of progress made on the foundations of game theory to expand and improve on PGT solution concepts.JEL classification:C72; C73; D81; D82; D92. Keywords:Psychological game theory; Belief-dependent motivation; Intentions; Time;Rationalizability; Self-confirming equilibrium; Bayesian sequential equilibrium Downloads
Pierpaolo Battigalli, Roberto Corrao and Martin Dufwenberg
641: Epistemic Game Theory without Types Structures: An Application to Psychological Games Downloads
Pierpaolo Battigalli, Roberto Corrao and Federico Sanna
640: Dynamic Vertical Foreclosure Downloads
Chiara Fumagalli and Massimo Motta
639: Forecasting and Trading Monetary Policy Effects on the Riskless Yield Curve with Regime Switching Nelson†Siegel Models Downloads
Massimo Guidolin and Manuela Pedio
637: Learning and Selfconfirming Equilibria in Network Games Downloads
Pierpaolo Battigalli, Fabrizio Panebianco and Paolo Pin
636: Identity, Beliefs, and Political Conflict Downloads
Nicola Gennaioli and Guido Tabellini
635: Representing Unawareness on State Spaces Downloads
Satoshi Fukuda
634: The Value of Offshore Secrets: Evidence from the Panama Papers Downloads
James O’Donovan, Hannes Wagner and Stefan Zeume
633: Epistemic Foundations for Set-algebraic Representations of Knowledge Downloads
Satoshi Fukuda
632: The Rational Core of Preference Relations Downloads
Simone Cerreia-Vioglio and Efe A. Ok
631: An Explicit Representation for Disappointment Aversion and Other Betweenness Preferences Downloads
Simone Cerreia-Vioglio, David Dillenberger and Pietro Ortoleva
630: Rational Inattention and Rate Distortion Theory: A Teaching Note Downloads
Tommaso Denti, Massimo Marinacci and Luigi Montrucchio
629: Beliefs, Plans, and Perceived Intentions in Dynamic Games Downloads
Pierpaolo Battigalli and Nicodemo De Vito
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