Abstract
| Original language | English |
|---|---|
| Place of Publication | Tilburg |
| Publisher | Microeconomics |
| Number of pages | 29 |
| Volume | 2000-81 |
| Publication status | Published - 2000 |
Publication series
| Name | CentER Discussion Paper |
|---|---|
| Volume | 2000-81 |
Keywords
- Social environments
- rationalizability
- coalitional rationality
Cite this
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Social Rationalizability. / Herings, P.J.J.; Mauleon, A.; Vannetelbosch, V.
Tilburg : Microeconomics, 2000. (CentER Discussion Paper; Vol. 2000-81).Research output: Working paper › Discussion paper › Other research output
TY - UNPB
T1 - Social Rationalizability
AU - Herings, P.J.J.
AU - Mauleon, A.
AU - Vannetelbosch, V.
N1 - Pagination: 29
PY - 2000
Y1 - 2000
N2 - Social environments constitute a framework in which it is possible to study how groups of agents interact in a society.The framework is general enough to analyse both non-cooperative and cooperative games.We identify a number of shortcomings of existing solution concepts that are used for social environments and propose a new concept called social rationalizability.The concept aims to identify the consequences of common knowledge of rationality and farsightedness within the framework of social environments.The set of socially rationalizable outcomes is shown to be non-empty for all social environments and it can be computed by an iterative reduction procedure.We introduce a definition of coalitional rationality for social environments and show that it is satisfied by social rationalizability.
AB - Social environments constitute a framework in which it is possible to study how groups of agents interact in a society.The framework is general enough to analyse both non-cooperative and cooperative games.We identify a number of shortcomings of existing solution concepts that are used for social environments and propose a new concept called social rationalizability.The concept aims to identify the consequences of common knowledge of rationality and farsightedness within the framework of social environments.The set of socially rationalizable outcomes is shown to be non-empty for all social environments and it can be computed by an iterative reduction procedure.We introduce a definition of coalitional rationality for social environments and show that it is satisfied by social rationalizability.
KW - Social environments
KW - rationalizability
KW - coalitional rationality
M3 - Discussion paper
VL - 2000-81
T3 - CentER Discussion Paper
BT - Social Rationalizability
PB - Microeconomics
CY - Tilburg
ER -