Abstract
We justify the application to extensive games of a model of deductive reasoning based on three key features: 'caution', 'full belief of opponent rationality', and 'no extraneous restrictions on beliefs'. We apply the model to several examples, and show that it yields novel economic insights. The approach supports forward induction, without necessarily promoting backward induction.
| Original language | English (US) |
|---|---|
| Pages (from-to) | 305-325 |
| Number of pages | 21 |
| Journal | Economic Journal |
| Volume | 113 |
| Issue number | 487 |
| DOIs | |
| State | Published - Apr 2003 |
| Externally published | Yes |
ASJC Scopus subject areas
- Economics and Econometrics