Rationalizability and Correlated Equilibria

Adam Brandenburger, Eddie Dekel

Research output: Chapter in Book/Report/Conference proceedingChapterpeer-review


We discuss the unity between the two standard approaches to noncooperative solution concepts for games. The decision-Theoretic approach starts from the assumption that the rationality of the players is common knowledge. This leads to the notion of correlated rationalizability. It is shown that correlated rationalizability is equivalent to a posteriori equilibrium-a refinement of subjective correlated equilibrium. Hence a decision-Theoretic justification for the equilibrium approach to game theory is provided. An analogous equivalence result is proved between independent rationalizability, which is the appropriate concept if each player believes that the others act independently, and conditionally independent a posteriori equilibrium. A characterization of Nash equilibrium is also provided.

Original languageEnglish
Title of host publicationWorld Scientific Series in Economic Theory
EditorsAdam Brandenburger
PublisherWorld Scientific
Number of pages15
StatePublished - 1 Sep 2023

Publication series

NameWorld Scientific Series in Economic Theory
ISSN (Print)2251-2071


  • correlated equilibrium
  • independence
  • Nash equilibrium
  • Rationalizability
  • subjective and common priors


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