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Two Remarks on the Infinite Approximation of a Finite World in Economic Models

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  • Shravan Luckraz
  • Nan-Jing Huang

Abstract

While the assumption of infinity is prevalent in almost every area of economics, for two well-known frameworks in decision theory, we note some fundamental differences between the finite versions and their infinite counterpart. The first is on the usage of mixed strategies in finite games, while the second is on a characterization of the truth axiom in models of information and knowledge, where the properties of belief can be related to the properties of preference.

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  • Shravan Luckraz & Nan-Jing Huang, 2022. "Two Remarks on the Infinite Approximation of a Finite World in Economic Models," Journal of Mathematics, Hindawi, vol. 2022, pages 1-5, January.
    • Handle: RePEc:hin:jjmath:2457746
    DOI: 10.1155/2022/2457746
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