Ellsberg Games

Wednesday 14 May 2014, 1.00PM to 2.00pm

Speaker(s): Frank Riedel, Bielefeld University

Abstract: We present a theory of games where players use Ellsberg devices rather than the usual probability tools as mixed strategies. Due to recent developments in decision theory, it is possible to develop a complete theory of such Ellsberg games in static and dynamic frameworks. We show with the help of examples how interesting new phenomena can be covered by such Ellsberg equilibria. We will also prove a version of Kuhn's theorem as a first step into the class of extensive--form games. It is also possible to "desambiguify" such equilibria in the spirit of Harsanyi's purification theorem.

Location: ARRC Auditorium (A/RC/014)

Admission: All welcome.