Informationally Robust Equilibria (IRE) are introduced in Robson (1994) as a refinement of Nash equilibria for e.g. bimatrix games, i.e. mixed extensions of two person finite games.Similar to the concept of perfect equilibria, basically the idea is that an IRE is a limit of some sequence of...

A canonical procedure is described, which associates to each infinite information collecting situation a related information collecting situation with finite state and action spaces, in such a way that the two corresponding IC-games are near to each other.Compensations for informants are then...

Relations are established between information sharing (IS) situations and IS-games on one hand and information collecting (IC) situations and IC-games on the other hand. It is shown that IC-games can be obtained as convex combinations of so-called local games. Properties are described which...

How to compensate people who provide relevant information to a decision-maker who faces uncertainty?This paper suggests some compensation rules.These are studied both in a cooperative and a noncooperative environment.

In this paper we consider information collecting (IC) situations where an action taker in an uncertain situation can improve his action choices by gathering information from some players who are more informed about the situation. Then the problem of sharing the gains when cooperating with...

In this paper we compare three methods for the determination of the reorder point s in an (R; s; Q) inventory model subject to a service level constraint. The three methods di er in the modelling assumptions of the demand process which in turn leads to three di erent approximations for the...

We investigate what determines the maturity of loans to small, informationally opaque businesses.We find that longer maturities are associated with collateral pledges, better financial condition, good credit history, and less informational opacity of the borrower.However, we do not find a...

AMS classifications: 90D12, 90B05.

This paper examines how the correlation structure of loan returns within a bank s loan portfolio a.ects its choice of .nancing when the bank faces binding capital constraints and there is asymmetric information about the quality of its loans.The paper uses an asymmetric information model similar...

Numerous researchers have incorporated labor or credit market frictions within simple neoclassical models to (i) facilitate quick departures from the Arrow-Debreu world, thereby opening up the role for institutions, (ii) inject some realism into their models, and (iii) explain cross country...