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An Epistemic Characterization of Extensive Form Rationalizability

Battigalli, Pierpaolo and Siniscalchi, Marciano (1997) An Epistemic Characterization of Extensive Form Rationalizability. Social Science Working Paper, 1009. California Institute of Technology , Pasadena, CA. (Submitted) https://resolver.caltech.edu/CaltechAUTHORS:20170810-154039653

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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.


Item Type:Report or Paper (Working Paper)
Group:Social Science Working Papers
Series Name:Social Science Working Paper
Issue or Number:1009
Record Number:CaltechAUTHORS:20170810-154039653
Persistent URL:https://resolver.caltech.edu/CaltechAUTHORS:20170810-154039653
Usage Policy:No commercial reproduction, distribution, display or performance rights in this work are provided.
ID Code:80380
Collection:CaltechAUTHORS
Deposited By: Jacquelyn Bussone
Deposited On:15 Aug 2017 16:48
Last Modified:03 Oct 2019 18:30

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