Hierarchy of beliefs
The hierarchy of beliefs is a mathematical construct in game theory used to model incomplete information situations, where players are uncertain about other players' private information. Each player is modeled as having a privately known "type" that determines their preferences and beliefs, which in turn guide their strategic decisions. This approach builds upon John Harsanyi’s foundational work on games with incomplete information.
Hierarchy of beliefs - Wikipedia Jump to content From Wikipedia, the free encyclopedia Mathematical construct in game theory The hierarchy of beliefs is a mathematical construct in game theory used to model incomplete information situations, where players are uncertain about other players' private information. Each player is modeled as having a privately known "type" that determines their preferences and beliefs, which in turn guide their strategic decisions. This approach builds upon John Harsanyi ’s foundational work on games with incomplete information . In this framework, a player's first-
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