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- W177597239 abstract "We apply the concept of Rationality Orderings, introduced by Battigalli (1991), to a game-theoretic setting where players’ rationality is defined according to the axiomatic system put forward by Blume et al. (1991a), i.e. each player is endowed with a vector of probability measures on her opponents’ strategy space and act to lexicographically maximize her expected utility. The theory of rationality orderings entails that players’ strategy sets are partitioned into cells indexed by “degree of rationality.” It is observed that when players’ utility functions are common knowledge, then players’ maximally rational strategies are those which survive the iterated deletion of weakly dominated strategies. Under the weaker assumption that only players’ preference relations on a given set of outcomes are common knowledge, we show for a restricted class of games that players’ maximally rational strategies coincide with the strategies that survive the iterated deletion of strategies which are dominated by pure strategies." @default.
- W177597239 created "2016-06-24" @default.
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- W177597239 date "1997-01-01" @default.
- W177597239 modified "2023-09-27" @default.
- W177597239 title "Lexicographic Rationality Orderings and Iterative Weak Dominance" @default.
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- W177597239 doi "https://doi.org/10.1007/978-1-4615-6337-2_5" @default.
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