Recently, Askoura et al. (2013) proved the nonemptiness of the α-core of a finite Bayesian game GR with Young measure strategies and nonatomic type spaces, without requiring that the expected payoffs be concave. Under the same hypotheses as theirs, we demonstrate that Scarf’s method (1971)...

In this paper we study the existence of the α-core for an n-person game with incomplete information. We follow a Milgrom–Weber–Balder formulation of a game with incomplete information. The players adopt behavioral strategies represented by Young measures. The game unrolls in one step at the...

In this paper we study the existence of the α-core for an n-person game with incomplete information. We follow a Milgrom-Weber-Balder formulation of a game with incomplete information. The players adopt behavioral strategies represented by Young measures. The game unrolls in one step at the ex...

We prove the existence of a weak solution to a backward stochastic differential equation (BSDE) Yt=ξ+∫tTf(s,Xs,Ys,Zs)ds−∫tTZsdWs in a finite-dimensional space, where f(t,x,y,z) is affine with respect to z, and satisfies a sublinear growth condition and a continuity condition. This...

This paper examines the role of the player type distributions in repeated zero sum games of incomplete information with discounting of payoffs. In particular the strategic "sufficiency" of the posterior distributions for histories and the Limiting properties of the posterior sequence are...

This paper investigates the contract design problem of a producer when he purchases parts from a supplier, and there is incomplete information regarding the quality of the parts. This is the first game-theoretic model of quality control that captures this informational asymmetry. We focus on two...

Brilliant but little known, in part because his style was dense and crucial papers unpublished, Earl Thompson reformulated standard theory to achieve policy relevance, focusing on significant rent-seeking inefficiencies stemming from private information and transaction costs. Drawing on history,...

In this paper, a Cournot game in an oligopolistic market with incomplete information is considered. The market consists of some producers that compete for getting higher payoffs. For optimal decision making, each player needs to estimate its rivals’ behaviors. This estimation is carried out...