Disambiguation of Ellsberg equilibria in 2x2 normal form games

Decerf B, Riedel F (2016) Center for Mathematical Economics Working Papers; 554.
Bielefeld: Center for Mathematical Economics.

Diskussionspapier | Veröffentlicht | Englisch
 
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Abstract / Bemerkung
Riedel and Sass (2013) study complete information normal form games in which ambiguity averse players use ambiguous randomization strategies, in addition to pure and mixed strategies. The solution concept they propose, the Ellsberg equilibrium, is a coarsening of the classical Nash equilibrium. We provide a foundation of the new equilibrium concept in the spirit of Harsanyi. We prove an extension of the Purification Theorem for 2x2 normal form games. Our result implies that any Ellsberg equilibrium of such game is the limit case of a mixed strategy equilibrium in a disturbed version of the game for which payoffs are ambiguously disturbed.
Stichworte
Knightian uncertainty; Ellsberg games; Ambiguity aversion; Purification; Disambiguation
Erscheinungsjahr
2016
Band
554
Seite(n)
43
ISSN
0931-6558
Page URI
https://pub.uni-bielefeld.de/record/2901361

Zitieren

Decerf B, Riedel F. Disambiguation of Ellsberg equilibria in 2x2 normal form games. Center for Mathematical Economics Working Papers. Vol 554. Bielefeld: Center for Mathematical Economics; 2016.
Decerf, B., & Riedel, F. (2016). Disambiguation of Ellsberg equilibria in 2x2 normal form games (Center for Mathematical Economics Working Papers, 554). Bielefeld: Center for Mathematical Economics.
Decerf, B., and Riedel, F. (2016). Disambiguation of Ellsberg equilibria in 2x2 normal form games. Center for Mathematical Economics Working Papers, 554, Bielefeld: Center for Mathematical Economics.
Decerf, B., & Riedel, F., 2016. Disambiguation of Ellsberg equilibria in 2x2 normal form games, Center for Mathematical Economics Working Papers, no.554, Bielefeld: Center for Mathematical Economics.
B. Decerf and F. Riedel, Disambiguation of Ellsberg equilibria in 2x2 normal form games, Center for Mathematical Economics Working Papers, vol. 554, Bielefeld: Center for Mathematical Economics, 2016.
Decerf, B., Riedel, F.: Disambiguation of Ellsberg equilibria in 2x2 normal form games. Center for Mathematical Economics Working Papers, 554. Center for Mathematical Economics, Bielefeld (2016).
Decerf, Benoit, and Riedel, Frank. Disambiguation of Ellsberg equilibria in 2x2 normal form games. Bielefeld: Center for Mathematical Economics, 2016. Center for Mathematical Economics Working Papers. 554.
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2019-09-06T09:18:36Z
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