Event
Chew Soo Hong (National University of Singapore), "Generalizing Obvious Dominance using the Sure-thing Principle"
Friday, October 21, 2022 15:30to17:00
Leacock Building
Leacock 429, 855 rue Sherbrooke Ouest, Montreal, QC, H3A 2T7, CA
"Generalizing Obvious Dominance using the Sure-thing Principle"
Chew Soo Hong (National University of Singapore)
October 21, 2022, 3:30 to 5:00 PM
Leacock 429
Host: Larry Epstein
Field: Theory
Abstract:
We offer a class of solution concepts for dynamic games by allowing obvious dominance (OD, Li, 2017) to be facilitated by players’ application of the sure-thing principle (STP, Savage, 1954) on relevant events in their contingent reasoning. In the resulting k-OD equilibrium, a lower k reflects a less demanding level of sophistication in applying STP. We present the class of gradual mechanisms, featuring dynamic information feedback, as a revelation principle for k-OD implementation. Applying k-OD to implement generalized median voter schemes, we show how an increasing sophistication level k extends the range of implementable social choice functions.