Purification and disambiguation of Ellsberg equilibria

Decerf B, Riedel F (2020)
ECONOMIC THEORY 69(3): 595-636.

Zeitschriftenaufsatz | Veröffentlicht | Englisch
 
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Autor*in
Decerf, Benoit; Riedel, FrankUniBi
Abstract / Bemerkung
Recently, the use of Knightian (uncertain) strategies in normal form games has received increasing attention. The use of uncertain acts in games leads to new (Ellsberg) equilibria. We provide a foundation of the new equilibrium concept in the spirit of Harsanyi by proving an extension of the Purification Theorem for 2 x 2 normal form games. Our result implies that Ellsberg equilibria are limits of equilibria in slightly perturbed games with private information. In such equilibria, players use pure or maxmin strategies only.
Stichworte
Knightian uncertainty; Ellsberg games; Ambiguity aversion; Purification; Disambiguation
Erscheinungsjahr
2020
Zeitschriftentitel
ECONOMIC THEORY
Band
69
Ausgabe
3
Seite(n)
595-636
ISSN
0938-2259
eISSN
1432-0479
Page URI
https://pub.uni-bielefeld.de/record/2942717

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Decerf B, Riedel F. Purification and disambiguation of Ellsberg equilibria. ECONOMIC THEORY. 2020;69(3):595-636.
Decerf, B., & Riedel, F. (2020). Purification and disambiguation of Ellsberg equilibria. ECONOMIC THEORY, 69(3), 595-636. doi:10.1007/s00199-019-01186-8
Decerf, B., and Riedel, F. (2020). Purification and disambiguation of Ellsberg equilibria. ECONOMIC THEORY 69, 595-636.
Decerf, B., & Riedel, F., 2020. Purification and disambiguation of Ellsberg equilibria. ECONOMIC THEORY, 69(3), p 595-636.
B. Decerf and F. Riedel, “Purification and disambiguation of Ellsberg equilibria”, ECONOMIC THEORY, vol. 69, 2020, pp. 595-636.
Decerf, B., Riedel, F.: Purification and disambiguation of Ellsberg equilibria. ECONOMIC THEORY. 69, 595-636 (2020).
Decerf, Benoit, and Riedel, Frank. “Purification and disambiguation of Ellsberg equilibria”. ECONOMIC THEORY 69.3 (2020): 595-636.