Showing 1 - 10 of 106
We call a correspondence, defined on the set of mixed strategy profiles, a generalized best reply correspondence if it has (1) a product structure, is (2) upper semi-continuous, (3) always includes a best reply to any mixed strategy profile, and is (4) convex- and closed-valued. For each...
Persistent link: https://www.econbiz.de/10009231404
This paper provides an in-depth study of the (most) refined best reply correspondence introduced by Balkenborg, Hofbauer, and Kuzmics (2012). An example demonstrates that this correspondence can be very different from the standard best reply correspondence. In two-player games, however, the...
Persistent link: https://www.econbiz.de/10009523194
We study a communication game of common interest in which the sender observes one of infinite types and sends one of finite messages which is interpreted by the receiver. In equilibrium there is no full separation but types are clustered into convex categories. We give a full characterization of...
Persistent link: https://www.econbiz.de/10003921430
In this paper I analyze a dynamic moral hazard problem in teams with imperfect monitoring in continuous time. In the model, players are working together to achieve a breakthrough in a project while facing a deadline. The effort needed to achieve such a breakthrough is unknown but players have a...
Persistent link: https://www.econbiz.de/10011304680
Two individuals are involved in a conflict situation in which preferences are ex ante uncertain. While they eventually learn their own preferences, they have to pay a small cost if they want to learn their opponent's preferences. We show that, for sufficiently small positive costs of information...
Persistent link: https://www.econbiz.de/10011412685
We analyze a game in which players with unique information are arranged in a hierarchy. In the lowest layer each player can decide in each of several rounds either to pass the information to his successor or to hold. While passing generates an immediate payoff according to the value of...
Persistent link: https://www.econbiz.de/10011619165
We study a continuous-time problem of optimal public good contribution under uncertainty for an economy with a finite number of agents. Each agent can allocate his wealth between private consumption and repeated but irreversible contributions to increase the stock of some public good. We study...
Persistent link: https://www.econbiz.de/10009764881
It is shown that the n-player lottery contest admits a best-response potential (Voorneveld, 2000, Economics Letters). This is true also when the contest technology reflects the possibility of a draw. The result implies, in particular, the existence of a non-trivial two-player zero-sum game that...
Persistent link: https://www.econbiz.de/10012963488
This paper examines multi-battle contests whose extensive form can be represented in terms of a finite state machine. We start by showing that any contest that satisfies our assumptions decomposes into two phases, a principal phase (in which states cannot be revisited) and a concluding...
Persistent link: https://www.econbiz.de/10012891585
We introduce a simple two-stage game of endogenous network formation and information sharing for reasoning about the optimal design of social networks like Facebook or Google. We distinguish between unilateral and bilateral connections and between targeted and collective information sharing....
Persistent link: https://www.econbiz.de/10013055757