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A Nash equilibrium is an optimal strategy for each player under the assumption that others play according to their respective Nash strategies, but it provides no guarantees in the presence of irrational players or coalitions of colluding players. In fact, no such guarantees exist in general....
Persistent link: https://www.econbiz.de/10011049834
In this work we introduce the notion of partial exposure, in which the players of a simultaneous-move Bayesian game are exposed to the realized types and chosen actions of a subset of the other players. We show that in any large simultaneous-move game, each player has very little regret even...
Persistent link: https://www.econbiz.de/10008565496
Persistent link: https://www.econbiz.de/10005413796
In a game with incomplete information players receive stochastic signals about the state of nature. The distribution of the signals given the state of nature is determined by the information structure. Different information structures may induce different equilibria.
Persistent link: https://www.econbiz.de/10010738056
Players who have a common interest are engaged in a game with incomplete information. Before playing they get differential stochastic signals that depend on the actual state of nature. These signals provide the players with partial information about the state of nature and may also serve as a...
Persistent link: https://www.econbiz.de/10008551547