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The Robustness of Equilibria to Incomplete Information
A number of papers have shown that a strict Nash equilibrium action profile of a game may never be played if there is a small amount of incomplete information. The authors present a general approachExpand
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Constrained suboptimality in incomplete markets: a general approach and two applications
Summary. In this paper we re-examine generic constrained suboptimality of equilibrium allocations with incomplete numeraire asset markets. We provide a general framework which is capable of resolvingExpand
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Intrinsic Preference for Information
Suppose, following Kreps & Porteus (1978), that an agent values information not only to make contingent plans but also for itself; that is, intrinsically. What, then, is the relationship between anExpand
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PAYOFF CONTINUITY IN INCOMPLETE INFORMATION GAMES
Abstract An incomplete information game is defined by a probability distributionμover a type space and payoff functionsu. Probability distributionμ′ isstrategically closetoμif, for any bounded payoffExpand
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Incomplete Information Games with Multiple Priors
We present a model of incomplete information games with sets of priors. Upon arrival of private information, each player "updates" by the Bayes rule each of priors in this set to construct the set ofExpand
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A generalization of Scarf's theorem: An α-core existence theorem without transitivity or completeness
Abstract Consider an n-person non-cooperative game. A coalition is said to α-block a given social state if it has a feasible strategy with which the coalition can ensure a social state preferred byExpand
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Refinements and Higher Order Beliefs: A Unified Survey
This paper presents a simple framework that allows us to survey and relate some different strands of the game theory literature. We describe a "canonical" way of adding incomplete information to aExpand
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Ausi Expected Utility: An Anticipated Utility Theory of Relative Disappointment Aversion
In recent years there has been a growing theoretical, experimental and empirical challenge to Expected Utility Theory, the overwhelmingly dominant paradigm for modeling decision-making under risk.Expand
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Temporal Resolution of Uncertainty and Recursive Non‐expected Utility Models
If an agent (wealkly) prefers early resolution of uncertainty then the recursive forms of both the most commonly used non-expected utility models, betweenness and rank dependence, almost reduce toExpand
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How to discard non-satiation and free-disposal with paper money
Abstract It is well known that a competitive equilibrium may fail to exist when preferences are possibly satiated. We show that this non-existence problem does not arise if one of the commodities isExpand
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