Title :
Rational expectations in games
Author :
Aumann, Robert J.
Author_Institution :
The Hebrew University of Jerusalem, Israel
Abstract :
A player i´s actions in a game are determined by her beliefs about other players; these depend on the game´s real-life context, not only its formal description. Define a game situation as a game together with such beliefs; call the beliefs—and i´s resulting expectation—rational if there is common knowledge of rationality and a common prior. In two-person zero-sum games, i´s only rational expectation is the game´s value. In an arbitrary game G, we characterize i´s rational expectations in terms of the correlated equilibria of the doubled game 2G in which each of i´s strategies in G appears twice.
Conference_Titel :
Game Theory for Networks, 2009. GameNets '09. International Conference on
Conference_Location :
Istanbul
Print_ISBN :
978-1-4244-4176-1
DOI :
10.1109/GAMENETS.2009.5137372