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Forward induction reasoning revisited

1st Person: Battigalli, Pierpaolo
Additional Persons: Friedenberg, Amanda
Type of Publication: Article
Language: English
Published: Wiley 2012
Online: http://hdl.handle.net/10419/150165
Description: Battigalli and Siniscalchi (2002) formalize the idea of forward induction reasoning as "rationality and common strong belief of rationality" (RCSBR). Here, we study the behavioral implications of RCSBR across all type structures. Formally, we show that RCSBR is characterized by a solution concept we call Extensive Form Best Response Sets (EFBRS's). It turns out that the EFBRS concept is equivalent to a concept already proposed in the literature, namely Directed Rationalizability. (See Battigalli and Siniscalchi 2003.) We conclude by applying the EFBRS concept to games of interest.
ISSN: 1555-7561

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