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Costless and non-binding pre-play communication (cheap talk) has been found to often be effective in achieving efficient outcomes in experimental games. However, in previous two-player experimental games each player was informed about both his payoff and the action of the other player in the...
Persistent link: https://www.econbiz.de/10005245570
We consider a model where agents work in sequence on a project, share information not available to the principal, and …
Persistent link: https://www.econbiz.de/10005245587
distinguish between an inspection that doesn't find evidence of misrepresented information and an inspection that just hasn't been …
Persistent link: https://www.econbiz.de/10005086713
signal. Allowing for additional, noisy information on sender types can radically alter sender behavior in such games. We … the additional information to stochastically separate themselves from low types, but in doing so they separate themselves …
Persistent link: https://www.econbiz.de/10005146888
The model we discuss in this note is a re-examination of the classical Bertrand model of imperfect competition. the main difference is that consumers are allowed to have some strategic behavior when deciding from which one of the two sellers to buy. We will approach the resolution of the...
Persistent link: https://www.econbiz.de/10005823960
It is well known that, whereas in one-agent contexts the value of information is always positive, in strategic … situations, this is not always the case. We will consider the class of games for which, under a specific information structure … information structure is Pareto dominated by this unique Pareto payoff profile. Therefore for these games the value of information …
Persistent link: https://www.econbiz.de/10005775617
The paper discusses several topics such Nash equilibria, repeated games. It also discusses applications to market games, regulation and R&D games.
Persistent link: https://www.econbiz.de/10005775632
We present the model of games with incomplete information first introduced by Harsanyi and show the link with extensive … form games with imperfect information. We provide then a construction of the universal type space of Mertens and Zamir …
Persistent link: https://www.econbiz.de/10005776534
Persistent link: https://www.econbiz.de/10005776566
criminal suits, is analyzed in the framework of a two-sided incomlete information game. …
Persistent link: https://www.econbiz.de/10005779401