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Uncertain rationality, depth of reasoning and robustness in games with incomplete information
2020
Theoretical Economics
Predictions under common knowledge of payoffs may differ from those under arbitrarily, but finitely, many orders of mutual knowledge; Rubinstein's (1989) Email game is a seminal example. Weinstein and Yildiz (2007) showed that the discontinuity in the example generalizes: for all types with multiple rationalizable (ICR) actions, there exist similar types with unique rationalizable action. This paper studies how a wide class of departures from common belief in rationality impact Weinstein and
doi:10.3982/te2734
fatcat:dgnwnrzqnvbahmqcwjldtv4mvm