Abstract
Empirical and experimental findings suggest that players may underestimate others' private information in incomplete-information games. We modify standard epistemic assumptions of static incomplete-information games to allow partial signal-awareness. That is, players can be unaware of some of the signals available to others. When learning to play, players form conjectures that underrepresent the sophistication of others' strategy profile. The resulting solution concept is equilibrium with partial signal-awareness (EPSA). We illustrate EPSA by various examples and prove an existence result and an equivalence result between it and Bayesian Nash equilibrium. We then compare EPSA and analogy-based expectation equilibrium (ABEE) (Jehiel and Koessler, 2008) and prove an equivalence result between them for analogy-based expectation games that satisfy the condition of comparative-informativeness. We also discuss how they differ.
Sign-in/Register to access full text options 
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callDisclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
