A note on Kuhn's Theorem with ambiguity averse players

Gaurab Aryal, Ronald Stauber*

*Corresponding author for this work

    Research output: Contribution to journalArticlepeer-review

    5 Citations (Scopus)

    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.

    Original languageEnglish
    Pages (from-to)110-114
    Number of pages5
    JournalEconomics Letters
    Volume125
    Issue number1
    DOIs
    Publication statusPublished - 22 Aug 2014

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