The E-mail Game Revisited - Modeling Rough Inductive Reasoning
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Description
I study the robustness of Rubinstein's (1989) E-Mail Game results by varying the information that players can utilize. The article follows one of Morris' (2002) reactions to the E-Mail game "that one should try to come up with a model of boundedly rational behavior that delivers predictions that are insensitive to whether there is common knowledge or a large number of levels of knowledge". Players in my model are presumed to use 'rough inductive reasoning' because they cannot utilize exact information. The information structure in the E-Mail game is generalized and the conditions are characterized under which Rubinstein's results hold. I find that rough inductive reasoning generates a payoff dominant equilibrium where the expected payoffs change continuously (instead of discretely) in the probability of "faulty" communication.
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ID Code: | 15074 | ||
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Item Type: | Contribution to Journal (Journal Article) | ||
Refereed: | Yes | ||
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Measurements or Duration: | 17 pages | ||
Keywords: | Inductive Reasoning | ||
DOI: | 10.1142/S0219198907001424 | ||
ISSN: | 0219-1989 | ||
Pure ID: | 33717957 | ||
Divisions: | Past > QUT Faculties & Divisions > QUT Business School Current > Schools > School of Economics & Finance |
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Copyright Owner: | Consult author(s) regarding copyright matters | ||
Copyright Statement: | This work is covered by copyright. Unless the document is being made available under a Creative Commons Licence, you must assume that re-use is limited to personal use and that permission from the copyright owner must be obtained for all other uses. If the document is available under a Creative Commons License (or other specified license) then refer to the Licence for details of permitted re-use. It is a condition of access that users recognise and abide by the legal requirements associated with these rights. If you believe that this work infringes copyright please provide details by email to qut.copyright@qut.edu.au | ||
Deposited On: | 09 Oct 2008 00:00 | ||
Last Modified: | 03 Mar 2024 15:06 |
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