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Intuitively, we expect that players who are allowed to engage in costless communication before playing a game would be foolish to agree on an inefficient equilibrium. At the same time, however, such preplay communication has been suggested as a rationale for expecting Nash equilibrium in...
Persistent link: https://www.econbiz.de/10009511713
We explore in an equilibrium framework whether games with multiple Nash equilibria are easier to play when players can communicate. We consider two variants, modelling talk about future plans and talk about past actions. The language from which messages are chosen is endogenous, messages are...
Persistent link: https://www.econbiz.de/10011345781
Games with multiple Nash equilibria are believed to be easier to play if players can communicate. We present a simple model of communication in games and investigate the importance of when communication takes place. Sending a message before play captures talk about intentions, after play...
Persistent link: https://www.econbiz.de/10010200432
This paper characterizes geometrically the set of all Nash equilibrium payoffs achievable with unmediated communication in persuasion games, i.e., games with an informed expert and an uninformed decisionmaker in which the expert's information is certifiable. The first equilibrium...
Persistent link: https://www.econbiz.de/10012778541
This paper studies theoretically and experimentally how the possibility of a negative payoff to one player in 2-by-2 hawk-dove games affects the strategic behavior of both players. Exposing column players to a possibility of negative payoff allows us to examine if row players can anticipate the...
Persistent link: https://www.econbiz.de/10013301539
This paper studies the incentives for interim voluntary disclosure of verifiable information in probabilistic all-pay contests with two-sided incomplete information. Private information may concern marginal cost, valuations, and ability. Our main result says that, if the contest is uniformly...
Persistent link: https://www.econbiz.de/10014321141
This article examines behavior in two-person constant-sum Colonel Blotto games in which each player maximizes the expected total value of the battlefields won. A lottery contest success function is employed in each battlefield. Recent experimental research on such games provides only partial...
Persistent link: https://www.econbiz.de/10012984886
We consider a general class of imperfectly discriminating contests with privately informed players. We show that findings by Athey (2001) imply the existence of a Bayesian Nash equilibrium in monotone pure strategies.
Persistent link: https://www.econbiz.de/10008822063
We characterize revenue maximizing mechanisms in a common value environment where the value of the object is equal to the highest of bidders' independent signals. The optimal mechanism exhibits either neutral selection, wherein the object is randomly allocated at a price that all bidders are...
Persistent link: https://www.econbiz.de/10011948704
Noting that a full characterization of Nash-implementation is given using a canonical-mechanism and Maskin's theorem …
Persistent link: https://www.econbiz.de/10014195916