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    Without a settled semantics for counterfactual reasoning ... — Carmelics
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    Challenges→A sequential equilibrium requires both a strategy profile and a system of beliefs that are mutually consistent and sequentially rational

    Without a settled semantics for counterfactual reasoning under irrationality, mutual consistency between strategies and beliefs is a formal artifact rather than a substantive rationality requirement.

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    Key Terms

    Counterfactual reasoning(the phrase 'could have been wrong' imagines an alternative to what actually happened)
    Thinking about 'what if' scenarios—imagining what would have happened under different circumstances than what actually occurred.
    Formal artifact(as used in philosophy of science and logic)
    A result that appears true because of technical or mathematical rules, but doesn't reflect anything real or meaningful in practice.
    Irrationality(describing the problem Pierre faces)
    Believing or acting in ways that contradict logic or your own other beliefs—doing things that don't make sense.
    Rationality requirement(as used in epistemology and ethics)
    A standard or rule that says rational people should think or act in a certain way to be considered reasonable.
    Strategies

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    (as used in game theory)
    In decision-making or game theory, a planned approach or set of choices someone can make to achieve their goals.
    mutual consistency(adequacy criteria for formalizing natural-language normative statements in SDL)
    A desideratum requiring that the symbolized premises not jointly entail a contradiction
    semantics(Distinguished from metasemantics and pragmatics in Kaplan 1989)
    The domain that concerns the facts about what meanings words or phrases have.

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    Truth & Knowledge1 linkedModality & Possibility1 linked

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    A sequential equilibrium requires both a strategy profile and a system of belief...

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