Article ID Journal Published Year Pages File Type
5059390 Economics Letters 2014 5 Pages PDF
Abstract
Kuhn's Theorem shows that extensive games with perfect recall can equivalently be analyzed using mixed or behavioral strategies, as long as players are expected utility maximizers. This note constructs an example that illustrates the limits of Kuhn's Theorem in an environment with ambiguity averse players who use a maxmin decision rule and full Bayesian updating.
Related Topics
Social Sciences and Humanities Economics, Econometrics and Finance Economics and Econometrics
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