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- Title
STANDARD STATE-SPACE MODELS PRECLUDE UNAWARENESS.
- Authors
Dekel, Eddie; Lipman, Barton L.; Rustichini, Aldo
- Abstract
The article provides evidence that standard state-space models preclude unawareness. It examines information structures that generalize the standard partitional model. These structures, known as possibility correspondences are often motivated by bounded rationality in general and unawareness in particular. The article illustrates the intuition behind the connection between unawareness and non-partitional possibility correspondences.
- Subjects
ECONOMETRIC models; AWARENESS; FUNCTIONS of bounded variation; RATIONAL choice theory; INTUITION; ECONOMETRICS
- Publication
Econometrica, 1998, Vol 66, Issue 1, p159
- ISSN
0012-9682
- Publication type
Article
- DOI
10.2307/2998545