The Logic of Knightian Games

17 Pages Posted: 25 Jun 2013

See all articles by Shiri Alon

Shiri Alon

Bar-Ilan University

Aviad Heifetz

Open University of Israel - Department of Economics and Management

Date Written: June 19, 2013

Abstract

We devise a sound and complete epistemic-logic axiomatization for Knightian type spaces - the generalization of Harsanyi type spaces employed in strategic games with asymmetric uncertainty/ambiguity. In a Knightian type space, each type's epistemic attitude is represented by a set of probability measures. The axiomatization unravels how each such epistemic attitude embodies a (potentially) partial likelihood relation over formulas, and conversely, each partial likelihood relation over formulas is representable by a Knightian type.

Keywords: Knightian uncertainty, type spaces, epistemic logic

JEL Classification: D81, D82, D83

Suggested Citation

Alon, Shiri and Heifetz, Aviad, The Logic of Knightian Games (June 19, 2013). Available at SSRN: https://ssrn.com/abstract=2283772 or http://dx.doi.org/10.2139/ssrn.2283772

Shiri Alon (Contact Author)

Bar-Ilan University ( email )

Ramat Gan
Ramat-Gan
Israel

Aviad Heifetz

Open University of Israel - Department of Economics and Management ( email )

108 Ravutski st.
P.O. B. 808
Raanana, 43107
Israel
+972 9 778 1878 (Phone)
+972 9 778 0668 (Fax)

HOME PAGE: http://www.openu.ac.il/Personal_sites/Aviad-Heifetz.html

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