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This note demonstrates that a symmetric 3×3 supermodular game may fail to have any equilibrium robust to incomplete information. Since the global game solution in symmetric 3×3 supermodular games is known to be independent of the noise structure, this result implies that a noise-independent...
Persistent link: https://www.econbiz.de/10011065398
For binary-action supermodular games with a continuum of symmetric players, we show that simple global game information structures can be used to implement an optimal outcome under adversarial equilibrium selection
Persistent link: https://www.econbiz.de/10014081999
We study a strict version of the notion of equilibrium robustness by Kajii and Morris (1997) that allows for a larger class of incomplete information perturbations of a given complete information game, where with high probability, players believe that their payoffs are close to (but may be...
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This paper extends the framework of Kajii and Morris (1997) to study the question of robustness to incomplete information in repeated games. We show that dynamically robust equilibria can be characterized using a one-shot robustness principle that extends the one-shot deviation principle. Using...
Persistent link: https://www.econbiz.de/10011695089
This note demonstrates that a symmetric 3x3 supermodular game may fail to have any equilibrium robust to incomplete information. Since the global game solution in symmetric 3x3 supermodular games is known to be independent of the noise structure, this result implies that a noise-independent...
Persistent link: https://www.econbiz.de/10013124968