作者：Karni, Edi
作者单位：Johns Hopkins University
摘要：This paper proposes a theory-based model of decision-making under uncertainty the main premise of which is that predictions of the outcomes of acts are derived from theories. Realized act-outcome pairs provide information on the basis of which decision makers update their beliefs regarding the validity of the underlying theories. Consequently, acts are, simultaneously, information-generating initiatives, or experiments, that have material consequences. Experiments, that is, information-generat...
作者：Kneeland, Terri
作者单位：University of London; University College London
摘要：We develop necessary and sufficient conditions for level-k implementation that apply in independent private value environments. These conditions establish a set of level-k incentive constraints that are analogous to Bayesian incentive constraints. We show that in two special environments, the level-k incentive constraints collapse down to Bayesian incentive constraints. We then show, via a bilateral trade application, that this is not a general implication. Bilateral trade is ex post efficient...
