Theoretical Economics 2 (2007), 15–40

This paper proposes the solution concept of interim correlated rationalizability, and shows that all types that have the same hierarchies of beliefs have the same set of interim-correlated-rationalizable outcomes. This solution concept characterizes common certainty of rationality in the universal type space.

Keywords: Rationalizability, incomplete information, common certainty, common knowledge, universal type space

JEL classification: C70, C72