Journal
JOURNAL OF ECONOMIC THEORY
Volume 158, Issue -, Pages 87-101Publisher
ACADEMIC PRESS INC ELSEVIER SCIENCE
DOI: 10.1016/j.jet.2015.03.009
Keywords
Iterative admissibility; Weak assumption; Common weak assumption of rationality
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Funding
- Ministry of Science and Technology in Taiwan [MOST 103-2410-H-001-018-MY2]
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Brandenburger et al. (2008a) show that rationality and common assumption of rationality (RCAR) is impossible in a complete and continuous type structure. We show, by introducing an alternative notion of assumption, weak assumption, that rationality and common weak assumption of rationality (RCWAR) is possible in a complete and continuous type structure. This possibility result provides an epistemic characterization for iterative admissibility. (C) 2015 Elsevier Inc. All rights reserved.
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