Showing 1 - 10 of 22
We present the model of games with incomplete information first introduced by Harsanyi and show the link with extensive form games with imperfect information. We provide then a construction of the universal type space of Mertens and Zamir together with some properties.
Persistent link: https://www.econbiz.de/10005776534
We introduce here zero-sum games, which represent the strategic interactions where two agents have totally opposed interests. The concept of rational solution for such interactions is then defined by the notions of value and optimal strategies. These quantities always exist if the information is...
Persistent link: https://www.econbiz.de/10005630659
We characterize, for any model of repeated interaction with incomplete information and signals, the information that players can learn through finite procedures robust to unilateral deviations.
Persistent link: https://www.econbiz.de/10005475318
This paper shows how to make hold the conjecture stated in Maskin an Tirole about the existence of a close connection between the finite, markovian stationary equilibria of a simple overlapping generations economy and the correlated equilibria of an associated finite exchange economy with...
Persistent link: https://www.econbiz.de/10005475338
Persistent link: https://www.econbiz.de/10005478356
L'instabilite bancaire et financiere des annees recentes a fait naitre un debat quant a l'opportunite d'une reforme de la reglementation prudentielle. Cet article vise a contribuer a ce debat en proposant un nouveau schema de reglementation prudentielle qui presente trois caracteristiques...
Persistent link: https://www.econbiz.de/10005478364
This paper presents and tests a model of cigarette consumption which mixes two types of intertemporal dependencies : habit-formation and learning about the health conseqences of smoking. This latter is argued to result from the observation of health developments, both one's own and those of...
Persistent link: https://www.econbiz.de/10005035766
In this survey article, we report results on the existence of pure-strategy Nash equilibria in games with an atomless continuum of players, each with an action set that is not necessarily finite. We also discuss purification and symmetrization of mixed-strategy Nash equilibria, and settings in...
Persistent link: https://www.econbiz.de/10005776497
Persistent link: https://www.econbiz.de/10005776523
In the first place, we present a quasi fixed-point theorem for a correspondence defined on some infinite-dimensional locally convex topological vector space such that some variables have open lower sections and the other ones are upper semicontinuous. In the second place, we propose a direct...
Persistent link: https://www.econbiz.de/10005776528