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This is a Experimental Study study (also classified as: Quantitative Study).

October 2, 2025Open Access

Berk-Nash Rationalizability

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Every limit action is Berk-Nash rationalizable, improving understanding of behavioral biases and cognitive constraints.
The approach shows that rationalizability holds true with probability one, regardless of convergence behavior.
Berk-Nash rationalizability provides a tractable method for bounding long-run behavior without complex dynamics.
The findings identify general environments where the rationalizable set can be characterized easily.

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This framework explores behavioral biases and cognitive constraints, suggesting that every limit action is rationalizable.

Esponda et al. (2025) studied this question.

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