Abstract

In this paper I scrutinize the “rational beliefs” in the concept of rationalizability in strategic games [Bernheim, Pearce ]. I illustrate through an example that a rationalizable strategy may not be supported by a “rational belief”, at least under one plausible interpretation of “rational belief”. I offer an alternative formulation of “rational belief” in the concept of rationalizability, which yields a novel epistemic interpretation of the notion of point-rationalizability.