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Behavioural versus Habitual Rationality and Backward Induction

Author

Listed:
  • Thorsten Clausing

    (Leipzig Graduate School of Management)

Abstract

The problem of finding sufficient conditions for backward induction in games of perfect information is analysed in a syntactic framework with subjunctive conditionals. The structure of the game is described by a logical formula. Two different rationality conditions are formulated, which are called behavioural and habitual rationality. While common knowledge of the former and the structure of the game does not imply backward induction, higher level knowledge of the latter and the structure of the game does. It is shown that similar results can be proven with non-introspective belief instead of knowledge.

Suggested Citation

  • Thorsten Clausing, 1999. "Behavioural versus Habitual Rationality and Backward Induction," Game Theory and Information 9905001, University Library of Munich, Germany, revised 24 Jun 1999.
    • Handle: RePEc:wpa:wuwpga:9905001
    Note: Type of Document - Postscript; pages: 12
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    More about this item

    Keywords

    rationality; backward induction; epistemic logic; conditionals;
    All these keywords.

    JEL classification:

    • C7 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory
    • D8 - Microeconomics - - Information, Knowledge, and Uncertainty

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