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Quantal Response Equilibrium in a Double Auction

Neri, Claudia - 2015

This paper establishes existence and uniqueness of Quantal Response Equilibrium (QRE) in a double auction. The concept of QRE has the intuitive property that a deviation from best response is less likely the higher the cost associated with the deviation itself. Thanks to such property, the QRE...

Persistent link: https://www.econbiz.de/10013017231

Pure Strategy Equilibria of Single and Double Auctions with Interdependent Values

Araújo, Aloisio Pessoa de; Castro, Luciano I. de - 2006

We prove the existence of monotonic pure strategy equilibrium for many types of asymmetric auctions with n bidders and unitary demands, interdependent values and independent types. The assumptions require monotonicity only in the own bidder's type. The payments can be a function of all bids....

Persistent link: https://www.econbiz.de/10014056597

On the Existence of Monotone Pure-Strategy Perfect Bayesian Equilibrium in Games with Complementarities

Mensch, Jeffrey - 2020

Many important economic situations can be modeled as dynamic games of incomplete information with strategic complementarities of actions and types. In this paper, we extend the results of Athey (2001) and Reny (2011) from static Bayesian games to dynamic environments, providing conditions that...

Persistent link: https://www.econbiz.de/10012852599

On the equivalence between Bayesian and dominant strategy implementation : the case of correlated types

Kushnir, Alexey - 2013

We consider general social choice environments with private values and correlated types. Each agent's matrix of conditional probabilities satisfies the full rank condition. We show that for any Bayesian incentive compatible mechanism there exists a dominant strategy incentive compatible...

Persistent link: https://www.econbiz.de/10009781889

On the Existence of Equilibrium in Bayesian Games Without Complementarities

Meneghel, Idione - 2019

This paper presents new results on the existence of pure-strategy Bayesian equilibria in speciﬁed functional forms. These results broaden the scope of methods developed by Reny (2011) well beyond monotone pure strategies. Applications include natural models of ﬁrst-price and all-pay auctions...

Persistent link: https://www.econbiz.de/10012859691

On the Existence of Equilibrium in Bayesian Games Without Complementarities

Meneghel, Idione - 2020

Persistent link: https://www.econbiz.de/10012839304

On the Existence of Equilibrium in Bayesian Games Without Complementarities

Meneghel, Idione; Tourky, Rabee - 2022

This paper presents new results on the existence of Bayesian equilibria in pure strategies of a specified functional form. These results broaden the scope of methods developed by Reny (2011) well beyond monotone pure strategies. Applications include natural models of first-price and all-pay...

Persistent link: https://www.econbiz.de/10014243562

Categorization and Correlation in a Random-Matching Game

Azrieli, Yaron - 2007

We consider a random-matching model in which every agent has a categorization (partition) of his potential opponents. In equilibrium, the strategy of each player is a best response to the distribution of actions of his opponents in each category of his categorization. We provide equivalence...

Persistent link: https://www.econbiz.de/10014223098

Cheap Talk with Correlated Information

Chand, A.K.S. - 2016

experts correlation unambiguously tightens the conditions on preferences for a truth-telling equilibrium. However, with … multiple experts the effect of correlation on the incentives to report information truthfully is non-monotonic. In particular …, while very small and very large correlation levels are detrimental for truth-telling, intermediate levels of correlation may …

Persistent link: https://www.econbiz.de/10012987832

On the Bright Side of Correlation Information Transmission

Battaggion, Maria Rosa; Karakoç, Gülen - 2022

that although correlation tightens the conditions on preferences for a truth-telling equilibrium, in the presence of … uncertainty, a high level of correlation may discipline the strongly biased expert and may foster the informational content of the … experts’ advice under high uncertainty about correlation. In contrast to what may be expected, it may be optimal for the …

Persistent link: https://www.econbiz.de/10014236650