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There are four types of dominance depending on whether domination is strict or weak and whether the dominating strategy is pure or mixed. Letting d vary over these four types of dominance, we say that a player is d-dominance rational when she does not play a strategy that is d-dominated relative to what she knows. For weak dominance by a mixed strategy, Stalnaker (1994) introduced a process of iterative maximal elimination of certain profiles that we call here flaws. We define here, analogously, d-flaws for each type of dominance d, and show that for each d, iterative elimination of d-flaws is order independent. We then show that the characterization of common knowledge of d-dominance rationality is the same for each d. A strategy profile can be played when d-dominance rationality is commonly known if and only if it survives an iterative elimination of d-flaws. Full paper available at https://doi.org/10.1016/j.geb.2019.11.001
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Richard R. Nelson
Prof.
Alternative spellings: Richard Robinson Nelson Richard Nelson Richard Robinson Nelson R. R. Nelson
B:1930 Biblio: US-amerikanischer Wirtschaftswissenschaftler und Professor für internationale Angelegenheiten; seit 1997 Professor für internationale Angelegenheiten an der University of Columbia; einer der führenden Vertreter der Evolutionsökonomik[ Place of Activity: New York, NY
Richard R. Nelson (born 1930 in New York City) is an American professor of economics at Columbia University. He is one of the leading figures in the revival of evolutionary economics thanks to his seminal book An Evolutionary Theory of Economic Change (1982) written jointly with Sidney G. Winter. He is also known for his work on industry, economic growth, the theory of the firm, and technical change. (Source: DBPedia)
2005 - Leontief Prize for Advancing the Frontiers of Economic Thought
Richard R. Nelson (born 1930 in New York City) is an American professor of economics at Columbia University. He is one of the leading figures in the revival of evolutionary economics thanks to his seminal book An Evolutionary Theory of Economic Change (1982) written jointly with Sidney G. Winter. He is also known for his work on industry, economic growth, the theory of the firm, and technical change. (Source: DBPedia)
Q930539
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Series
LEM working paper series (12)
Working paper (5)
CESPRI working papers (3)
NBER Working Paper (2)
Papers on economics & evolution (2)
Edward Elgar E-Book Archive (2)
Working paper / National Bureau of Economic Research, Inc. (2)
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Papers and proceedings of the ... annual meeting of the American Economic Association (1)
Working paper / Internationales Institut für Angewandte System-Analyse : WP (1)
Economic research reports (1)
Fundamental research issues in strategy and economics (1)
Professor Dr. F. De Vries lectures in economics : theory, institutions, policy (1)
Economic Policy Papers, New York University, Faculty of Arts and Science, Department of Economics, C. V. Starr Center for Apllied Economics : PP-16 (1)
AEI studies (1)
The technology policy and economic growth series (1)
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P / the Rand Corporation (1)
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Innovation and technology in the world economy (1)
Innovation and Technology in the World Economy (1)