Abstract

http://ssrn.com/abstract=1729280
 
 

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Interdependent Preferences and Strategic Distinguishability


Dirk Bergemann


Yale University - Cowles Foundation - Department of Economics

Stephen Morris


Princeton University - Department of Economics

Satoru Takahashi


National University of Singapore (NUS) - Department of Economics

February 28, 2011

Economic Theory Center Working Paper No. 008-2011

Abstract:     
A universal type space of interdependent expected utility preference types is constructed from higher-order preference hierarchies describing (i) an agent's (unconditional) preferences over a lottery space; (ii) the agent's preference over Anscombe-Aumann acts conditional on the unconditional preferences; and so on.

Two types are said to be strategically indistinguishable if they have an equilibrium action in common in any mechanism that they play. We show that two types are strategically indistinguishable if and only if they have the same preference hierarchy. We examine how this result extends to alternative solution concepts and strategic relations between types.

Number of Pages in PDF File: 43

Keywords: Interdependent Preferences, Higher-Order Preference Hierarchy, Universal Type Space, Strategic Distinguishability

JEL Classification: C79, D82, D83

working papers series


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Date posted: December 22, 2010 ; Last revised: March 19, 2011

Suggested Citation

Bergemann, Dirk and Morris, Stephen and Takahashi, Satoru, Interdependent Preferences and Strategic Distinguishability (February 28, 2011). Economic Theory Center Working Paper No. 008-2011. Available at SSRN: http://ssrn.com/abstract=1729280 or http://dx.doi.org/10.2139/ssrn.1729280

Contact Information

Dirk Bergemann (Contact Author)
Yale University - Cowles Foundation - Department of Economics ( email )
28 Hillhouse Ave
New Haven, CT 06520-8268
United States
203-432-3592 (Phone)
203-432-2128 (Fax)
HOME PAGE: http://www.econ.yale.edu/~dirk/
Stephen Edward Morris
Princeton University - Department of Economics ( email )
Princeton, NJ 08544-1021
United States

Satoru Takahashi
National University of Singapore (NUS) - Department of Economics ( email )
1 Arts Link, AS2 #06-02
Singapore 117570, Singapore 119077
Singapore
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