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Games with Unawareness

Author

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  • Feinberg Yossi

    (Stanford Graduate School of Business, Stanford University, Stanford, 94305-5015, CA, USA)

Abstract

We provide a tool to model and solve strategic situations where players’ perceptions are limited, as well as situations where players realize that other players’ perceptions may be limited and so on. We define normal, repeated, incomplete information, and extensive form games with unawareness using a unified methodology. A game with unawareness is defined as a collection of standard games (of the corresponding form). The collection specifies how each player views the game, how she views the other players’ perceptions of the game and so on. The modeler’s description of perceptions, the players’ description of other players’ perceptions, etc. are shown to have consistent representations. We extend solution concepts such as rationalizability and Nash equilibrium to these games and study their properties. It is shown that while unawareness in normal form games can be mapped to incomplete information games, the extended Nash equilibrium solution is not mapped to a known solution concept in the equivalent incomplete information games, implying that games with unawareness generate novel types of behavior.

Suggested Citation

  • Feinberg Yossi, 2021. "Games with Unawareness," The B.E. Journal of Theoretical Economics, De Gruyter, vol. 21(2), pages 433-488, June.
    • Handle: RePEc:bpj:bejtec:v:21:y:2021:i:2:p:433-488:n:1
    DOI: 10.1515/bejte-2018-0186
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    Cited by:

    1. Schipper, Burkhard C., 2021. "Discovery and equilibrium in games with unawareness," Journal of Economic Theory, Elsevier, vol. 198(C).

    More about this item

    Keywords

    games; unawareness;

    JEL classification:

    • C72 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Noncooperative Games
    • D81 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Criteria for Decision-Making under Risk and Uncertainty
    • D82 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Asymmetric and Private Information; Mechanism Design

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