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Agent Connectedness And Backward Induction

Author

Listed:
  • CHRISTIAN W. BACH

    (Department of Quantitative Economics, Maastricht University, 6200 MD Maastricht, The Netherlands)

  • CONRAD HEILMANN

    (Erasmus Institute for Philosophy and Economics (EIPE), Faculty of Philosophy, Erasmus University Rotterdam, 3000 DR Rotterdam, The Netherlands)

Abstract

We conceive of a player in dynamic games as a set of agents, which are assigned the distinct tasks of reasoning and node-specific choices. The notion of agent connectedness measuring the sequential stability of a player over time is then modeled in an extended type-based epistemic framework. Moreover, we provide an epistemic foundation for backward induction in terms of agent connectedness. Besides, it is argued that the epistemic independence assumption underlying backward induction is stronger than usually presumed.

Suggested Citation

  • Christian W. Bach & Conrad Heilmann, 2011. "Agent Connectedness And Backward Induction," International Game Theory Review (IGTR), World Scientific Publishing Co. Pte. Ltd., vol. 13(02), pages 195-208.
    • Handle: RePEc:wsi:igtrxx:v:13:y:2011:i:02:n:s0219198911002940
    DOI: 10.1142/S0219198911002940
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    Citations

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    Cited by:

    1. Battigalli, Pierpaolo & De Vito, Nicodemo, 2021. "Beliefs, plans, and perceived intentions in dynamic games," Journal of Economic Theory, Elsevier, vol. 195(C).
    2. Méder, Zsombor Z. & Flesch, János & Peeters, Ronald, 2017. "Naiveté and sophistication in dynamic inconsistency," Mathematical Social Sciences, Elsevier, vol. 87(C), pages 40-54.
    3. Giacomo Bonanno, 2018. "Behavior and deliberation in perfect-information games: Nash equilibrium and backward induction," International Journal of Game Theory, Springer;Game Theory Society, vol. 47(3), pages 1001-1032, September.
    4. Dekel, Eddie & Siniscalchi, Marciano, 2015. "Epistemic Game Theory," Handbook of Game Theory with Economic Applications,, Elsevier.

    More about this item

    Keywords

    Backward induction; epistemic independence; interactive epistemology; multiple-selves; Subject Classification: C72; Subject Classification: C73;
    All these keywords.

    JEL classification:

    • B4 - Schools of Economic Thought and Methodology - - Economic Methodology
    • C0 - Mathematical and Quantitative Methods - - General
    • C6 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling
    • C7 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory
    • D5 - Microeconomics - - General Equilibrium and Disequilibrium
    • D7 - Microeconomics - - Analysis of Collective Decision-Making
    • M2 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Economics

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