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slide28-nov9 - ECON 401: Game theory: Rationalizable...

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ECON 401: Game theory: Rationalizable Strategies Siyang Xiong Rice University November 11, 2011 Xiong (Rice University) ECON 401 November 11, 2011 1 / 12
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Rationalizable Strategies solution concepts (weakly and strictly) dominant strategies; (weakly and strictly) dominated strategies, Nash Equilibrium; a new solution concept: rationalizable strategies. Xiong (Rice University) ECON 401 November 11, 2011 2 / 12
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Rationalizable Strategies confess 2 , 2 10 , 1 confess 1 , 10 5 , 5 "confess" is a dominant strategy for each player; we predict that both players will play "confess". Xiong (Rice University) ECON 401 November 11, 2011 3 / 12
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confess don&t confess 0 , 2 10 , 1 confess 1 , 10 5 , 5 player 1 no longer has a dominant strategy; player 2 still has a dominant strategy: "confess"; we predict that both players will play "confess". Xiong (Rice University)
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This note was uploaded on 02/09/2012 for the course ECON 401 taught by Professor Siyang during the Spring '11 term at Rice.

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slide28-nov9 - ECON 401: Game theory: Rationalizable...

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