IDEAS home Printed from https://ideas.repec.org/a/inm/ormnsc/v28y1982i2p120-124.html
   My bibliography  Save this article

Comment---Subjective Probability and the Theory of Games: Comments on Kadane and Larkey's Paper

Author

Listed:
  • John C. Harsanyi

    (University of California, Berkeley)

Abstract

The normative solution concepts of game theory try to provide a clear mathematical characterization of what it means to act rationally in a game where all players expect each other to act rationally. Kadane and Larkey reject the use of these normative solution concepts. Yet, this amounts to throwing away an important piece of information to the effect that the players are rational and expect each other to be rational. Even in situations where the players do not expect each other to act with complete rationality, normative game theory can help them heuristically to formulate reasonable expectations about the other players' behavior.

Suggested Citation

  • John C. Harsanyi, 1982. "Comment---Subjective Probability and the Theory of Games: Comments on Kadane and Larkey's Paper," Management Science, INFORMS, vol. 28(2), pages 120-124, February.
    • Handle: RePEc:inm:ormnsc:v:28:y:1982:i:2:p:120-124
    DOI: 10.1287/mnsc.28.2.120
    as

    Download full text from publisher

    File URL: http://dx.doi.org/10.1287/mnsc.28.2.120
    Download Restriction: no
    File URL: https://libkey.io/10.1287/mnsc.28.2.120?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Michael Macgregor Perry & Hadi El-Amine, 2021. "Computational Efficiency in Multivariate Adversarial Risk Analysis Models," Papers 2110.12572, arXiv.org.
    2. Li, Chen & Turmunkh, Uyanga & Wakker, Peter P., 2020. "Social and strategic ambiguity versus betrayal aversion," Games and Economic Behavior, Elsevier, vol. 123(C), pages 272-287.
    3. Xiao Luo, 2016. "Rational beliefs in rationalizability," Theory and Decision, Springer, vol. 81(2), pages 189-198, August.
    4. Velu, C. & Iyer, S., 2008. "Returns-Based Beliefs and The Prisoner’s Dilemma," Cambridge Working Papers in Economics 0854, Faculty of Economics, University of Cambridge.
    5. Ma, Chenghu, 2000. "Uncertainty aversion and rationality in games of perfect information," Journal of Economic Dynamics and Control, Elsevier, vol. 24(3), pages 451-482, March.
    6. Peter Boatwright & Sharad Borle & Joseph B. Kadane, 2010. "Common Value vs. Private Value Categories in Online Auctions: A Distinction Without a Difference?," Decision Analysis, INFORMS, vol. 7(1), pages 86-98, March.
    7. Velu, C. & Iyer, S., 2008. "The Rationality of Irrationality for Managers: Returns- Based Beliefs and the Traveller’s Dilemma," Cambridge Working Papers in Economics 0826, Faculty of Economics, University of Cambridge.
    8. Tetsuo Kondo, 1990. "Some Notes on Rational Behavior, Normative Behavior, Moral Behavior, and Cooperation," Journal of Conflict Resolution, Peace Science Society (International), vol. 34(3), pages 495-530, September.
    9. Michael D. McGinnis, 1992. "Deterrence Theory Discussion: I," Journal of Theoretical Politics, , vol. 4(4), pages 443-457, October.
    10. Michael H. Rothkopf, 2007. "Decision Analysis: The Right Tool for Auctions," Decision Analysis, INFORMS, vol. 4(3), pages 167-172, September.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:inm:ormnsc:v:28:y:1982:i:2:p:120-124. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Chris Asher (email available below). General contact details of provider: https://edirc.repec.org/data/inforea.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.