Showing 1 - 3 of 3
A set of players have preferences over a set of outcomes. We consider the problem of an "information designer" who can choose an information structure for the players to serve his ends, but has no ability to change the mechanism (or force the players to make particular action choices). We...
Persistent link: https://www.econbiz.de/10013001526
There is tight link between coordination and common knowledge. The role of higher order beliefs in static incomplete information games has been widely studied. In particular, information frictions breaks down common of payoffs. A large literature in economics examines dynamic coordination...
Persistent link: https://www.econbiz.de/10013054999
We study coordination games under general type spaces. We characterize rationalizable actions in terms of the properties of the belief hierarchies and show that there is a unique rationalizable action played whenever there is approximate common certainty of rank beliefs, defi ned as the...
Persistent link: https://www.econbiz.de/10013022006