Work

A logical characterization of iterated admissibility

Year: 2009

Type: conference-paper

Abstract: Brandenburger, Friedenberg, and Keisler provide an epistemic characterization of iterated admissibility (i.e., iterated deletion of weakly dominated strategies) where uncertainty is represented using LPSs (lexicographic probability sequences). Their characterization holds in a rich structure called a complete structure, where all types are possible. Here, a logical characterization of iterated admissibility is given that involves only standard probability and holds in all structures, not just complete structures. Roughly speaking, our characterization shows that iterated admissibility captures the intuition that "all the agent knows" is that agents satisfy the appropriate rationality assumptions.

Source: Theoretical Aspects of Rationality and Knowledge

DOI: 10.1145/1562814.1562836

Authors: Joseph Y. Halpern, Rafael Pass

Institution: Cornell University

Language: English

Topic: Game Theory and Applications

Subfield: Management Science and Operations Research

Field: Decision Sciences

Domain: Social Sciences

Open Access status: green

Funders: National Science Foundation, Division of Computing and Communication Foundations, Division of Information and Intelligent Systems, Air Force Office of Scientific Research

Awards: ITR: Networks of Strategic Agents: Theory and Algorithms, G3892237534, G4383454779, G5402135638, G7136888838