A logical characterization of iterated admissibility

ABSTRACT

Brandenburger, Friedenberg, and Keisler provide an epistemic characterization of iterated admissibility (i.e., iterated deletion of weakly dominated strategies) where uncertainty is represented using LPSs (lexicographic probability sequences). Their characterization holds in a rich structure called a complete structure, where all types are possible. Here, a logical characterization of iterated admissibility is given that involves only standard probability and holds in all structures, not just complete structures. Roughly speaking, our characterization shows that iterated admissibility captures the intuition that "all the agent knows" is that agents satisfy the appropriate rationality assumptions.

REFERENCES

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INDEX TERMS

Primary Classification:
  I. Computing Methodologies
  I.2 ARTIFICIAL INTELLIGENCE
      I.2.4 Knowledge Representation Formalisms and Methods

Additional Classification:
  I. Computing Methodologies
  I.2 ARTIFICIAL INTELLIGENCE
        I.2.11 Distributed Artificial Intelligence
            Subjects: Languages and structures
      I.2.3 Deduction and Theorem Proving
          Subjects: Uncertainty, "fuzzy," and probabilistic reasoning
  I.6 SIMULATION AND MODELING
      I.6.5 Model Development
          Subjects: Modeling methodologies

General Terms:
Algorithms, Design, Theory