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A logical characterization of iterated admissibility

Published: 06 July 2009 Publication History
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  • Abstract

    Brandenburger, Friedenberg, and Keisler provide an epistemic characterization of iterated admissibility (i.e., iterated deletion of weakly dominated strategies) where uncertainty is represented using LPSs (lexicographic probability sequences). Their characterization holds in a rich structure called a complete structure, where all types are possible. Here, a logical characterization of iterated admissibility is given that involves only standard probability and holds in all structures, not just complete structures. Roughly speaking, our characterization shows that iterated admissibility captures the intuition that "all the agent knows" is that agents satisfy the appropriate rationality assumptions.

    References

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    TARK '09: Proceedings of the 12th Conference on Theoretical Aspects of Rationality and Knowledge
    July 2009
    272 pages
    ISBN:9781605585604
    DOI:10.1145/1562814

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    Association for Computing Machinery

    New York, NY, United States

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    Published: 06 July 2009

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    TARK '09 Paper Acceptance Rate 29 of 77 submissions, 38%;
    Overall Acceptance Rate 61 of 177 submissions, 34%

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