Corvinus
Corvinus

Every hierarchy of beliefs is a type

Pintér, Miklós (2012) Every hierarchy of beliefs is a type. Working Paper. Corvinus University of Budapest. (Unpublished)

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Abstract

When modeling game situations of incomplete information one usually considers the players’ hierarchies of beliefs, a source of all sorts of complications. Harsányi (1967-68)’s idea henceforth referred to as the ”Harsányi program” is that hierarchies of beliefs can be replaced by ”types”. The types constitute the ”type space”. In the purely measurable framework Heifetz and Samet (1998) formalize the concept of type spaces and prove the existence and the uniqueness of a universal type space. Meier (2001) shows that the purely measurable universal type space is complete, i.e., it is a consistent object. With the aim of adding the finishing touch to these results, we will prove in this paper that in the purely measurable framework every hierarchy of beliefs can be represented by a unique element of the complete universal type space.

Item Type:Monograph (Working Paper)
Uncontrolled Keywords:game theory
Subjects:Mathematics, Econometrics
Funders:János Bolyai Research Scholarship of the Hungarian Academy of Sciences
Projects:OTKA 72856
ID Code:553
Deposited By: Ádám Hoffmann
Deposited On:09 Mar 2012 10:18
Last Modified:03 Jul 2012 01:27

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