Deductive Reasoning in Extensive Games

Deductive Reasoning in Extensive Games

We justify the application to extensive games of a model of deductive reasoning based on three key features: 'caution', 'full belief of opponent rationality', and 'no extraneous restrictions on beliefs'. We apply the model to several examples, and show that it yields no...

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Veröffentlicht in:The Economic journal (London) 2003-04, Vol.113 (487), p.305-325
Hauptverfasser: Asheim, Geir B., Dufwenberg, Martin
Format: Artikel
Sprache:eng
Schlagworte:
Backward induction
Decision making
Deductive reasoning
Economic models
Economics
Game theory
Games
Intuition
Nash equilibrium
Perfect information
Rational choice theory
Rationality
Reason
Reasoning
Studies
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Beschreibung
Zusammenfassung:We justify the application to extensive games of a model of deductive reasoning based on three key features: 'caution', 'full belief of opponent rationality', and 'no extraneous restrictions on beliefs'. We apply the model to several examples, and show that it yields novel economic insights. The approach supports forward induction, without necessarily promoting backward induction.
ISSN:0013-0133
1468-0297
DOI:10.1111/1468-0297.00121