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We study stopping games in the setup of Neveu. We prove the existence of a uniform value (in a sense defined below), by allowing the players to use randomized strategies. In contrast with previous work, we make no comparison assumption on the payoff processes. Moreover, we prove that the value...
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Quitting games are sequential games in which, at any stage, each player has the choice between continuing and quitting. The game ends as soon as at least player chooses to quit; player i then receives a payoff r, which depends on the set S of players that did choose to quit. If the game never...
Persistent link: https://www.econbiz.de/10005252376
We study the existence of correlated equilibrium payoff in stochastic games. The correlation devices that we use are either autonomous (they base their choice of signal on previous signals, but not on previous states or actions) or stationary (their choice is independent of any data, and is...
Persistent link: https://www.econbiz.de/10005252492
We analyze a toy class of two-player repeated games with two-sided incomplete information. In our model, two players are facing independent decision problems and each of them holds information that is potentially valuable to the other player. We study to what extent, and how, information can be...
Persistent link: https://www.econbiz.de/10011049786
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We analyze a toy class of two-player repeated games with two-sided incomplete information. In effect, two players are facing independent decision problems and each of them holds information that is potentially valuable to the other player. We study to what extent, and how, information can be...
Persistent link: https://www.econbiz.de/10010832965
We study a general model of dynamic games with purely informational externalities. We prove that eventually all motives for experimentation disappear, and provide the exact rate at which experimentation decays. We also provide tight conditions under which players eventually reach a consensus....
Persistent link: https://www.econbiz.de/10005066713
We study finite zero-sum stochastic games in which players do not observe the actions of their opponent. Rather, at each stage, each player observes a stochastic signal that may depend on the current state and on the pair of actions chosen by the players. We assume that each player observes the...
Persistent link: https://www.econbiz.de/10005755656