Abstract
The example of the "absent-minded driver" was introduced by Piccione and Rubinstein in the context of games and decision problems with imperfect recall. They claim that a "paradox" or "inconsistency" arises when the decision reached at the "planning stage" is compared with that at the "action stage." Though the example is provocative and worth having, their analysis is questionable. A careful analysis reveals that while the considerations at the planning and action stages do differ, there is no paradox or inconsistency.Journal of Economic LiteratureClassification Numbers: D81, C72.
Original language | English |
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Pages (from-to) | 102-116 |
Number of pages | 15 |
Journal | Games and Economic Behavior |
Volume | 20 |
Issue number | 1 |
DOIs | |
State | Published - Jul 1997 |