Microtheory Seminar Series. "Structural preferences: foundations and applications"
Published: 26 March 2024
23 April 2024. Professor Marciano Siniscalchi, Northwestern University
Professor Marciano Siniscalchi, Northwestern University
"Structural preferences: foundations and applications"
Tuesday, 23 April 2024. 16:00-17:30
Room 204, Sir Alexander Stone Building
Abstract
The analysis of key game-theoretic concepts such as sequential rationality or backward- and forward-induction hinges on assumptions about players' actions and beliefs at information sets that are not actually reached during game play, and that players themselves do not expect to reach. However, it is not obvious how to elicit intended actions and conditional beliefs at such information sets. In Siniscalchi (Econometrica, 2022), I address this concern by introducing a novel optimality criterion, structural rationality, which implies sequential rationality but allows for the incentive-compatible elicitation of beliefs and intended actions. The present paper complements the analysis by providing an axiomatic foundation for structural preferences.
Bio
Marciano Siniscalchi is Professor of Economics at Northwestern University. His research interests include the theory of dynamic games, dynamic decision problems, and information economics. He is an elected fellow of the Econometric Society and the Society for the Advancement of Economic Theory, as well as a former co-editor of the Journal of Economic Theory.
For further information, please contact business-school-research@glasgow.ac.uk
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First published: 26 March 2024