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This paper studies extensive form games with perfect information and simultaneous moves, henceforth called games with public information. On this class, we prove that all communication equilibrium payoffs can be obtained without mediator by cheap-talk procedures. The result encompasses repeated...
Persistent link: https://www.econbiz.de/10015241883
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/10012236038
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/10012236039
"There is no place where espionage is not possible." -Sun Tzu, The Art of War, approximately 500BC We consider extensive form games in which players decide on their strategies before the start of play and can purchase noisy information about their opponents' decisions concerning future response...
Persistent link: https://www.econbiz.de/10012236069
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...
Persistent link: https://www.econbiz.de/10012236070
We prove an existence result for games with incomplete information with continuous type spaces under the assumption that players have atomic posteriors. This information structure is an extreme example of the failure of absolute continuity of information, hence our result complements the...
Persistent link: https://www.econbiz.de/10012236074
An absorbing game is a repeated game where some of the action combinations are absorbing, in the sense that whenever they are played, there is a positive probability that the game terminates, and the players receive some terminal payoff at every future stage. We prove that every n-player...
Persistent link: https://www.econbiz.de/10012236084
Randomization may add beneficial flexibility to the construction of optimal simple decision rules in dynamic environments. A decision maker, restricted to the use of simple rules, may find a stochastic rule that strictly outperforms all deterministic ones. This is true even in highly separable...
Persistent link: https://www.econbiz.de/10012236095
We prove the existence of Blackwell epsilon-optimal strategies in finite Markov Decision Processes with partial observation.
Persistent link: https://www.econbiz.de/10012236104
We address the problem of existence of the uniform value in recursive games. We give two existence results. (i) The uniform value is shown to exist if the state space is countable, the action sets are finite and if, for some a 0, there are finitely many states in which the limsup value is less...
Persistent link: https://www.econbiz.de/10012236105