Showing 1 - 10 of 109
In this article, we present a reference case of mean field games. This case can be seen as a reference for two main reasons. First, the case is simple enough to allow for explicit resolution: Bellman functions are quadratic, stationary measures are normal and stability can be dealt with...
Persistent link: https://www.econbiz.de/10010707908
We study the existence of uniform correlated equilibrium payoffs 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...
Persistent link: https://www.econbiz.de/10010861535
We show on a 4x4 example that many dynamics may eliminate all strategies used in correlated equilibria, and this for an open set of games. This holds for the best-response dynamics, the Brown-von Neumann-Nash dynamics and any monotonic or weakly sign-preserving dynamics satisfying some standard...
Persistent link: https://www.econbiz.de/10010905338
This note establishes that in every 3-3 symmetric game, the replicator dynamics eliminates all strategies that are never used in correlated equilibrium. This extends to the best-response dynamics and to any convex monotonic dynamics. The proof is based on dual reduction.
Persistent link: https://www.econbiz.de/10010706397
Persistent link: https://www.econbiz.de/10010706455
We study a two-person zero-sum game where players simultaneously choose sequences of actions, and the overall payoff is the average of a one-shot payoff over the joint sequence. We consider the maxmin value of the game played in pure strategies by boundedly rational players and model bounded...
Persistent link: https://www.econbiz.de/10010707790
The motivation of this paper comes from repeated games with incomplete information and imperfect monitoring. It concerns the existence, for any payoff function, of a particular equilibrium (called completely revealing) allowing each player to learn the state of nature. We consider thus an...
Persistent link: https://www.econbiz.de/10010708402
We characterize the set of communication equilibrium payoffs of any undiscounted repeated matrix-game with imperfect monitoring and complete information. For two-player games, a characterization is provided by Mertens, Sorin, and Zamir (Repeated games, Part A (1994) CORE DP 9420), mainly using...
Persistent link: https://www.econbiz.de/10010708769
We show that essentially every communication equilibrium of any finite Bayesian game with two players can be implemented as a strategic form correlated equilibrium of an extended game, in which before choosing actions as in the Bayesian game, the players engage in a possibly fin nitely long (but...
Persistent link: https://www.econbiz.de/10010708889
The article shows how Jean-Francois Mertens contributed to the development of game theory and microeconomics as we know them today. Along with about 80 articles, Mertens's topics go from the formulation of Bayesian decision making in games with incomplete information to the foundations of cost...
Persistent link: https://www.econbiz.de/10011074149