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Persistent link: https://www.econbiz.de/10009714547
The paper shows that Perfect Bayesian equilibria need not be unique in the strategic communication game of Crawford and Sobel (1982). First, different equilibrium partitions of the state space can have equal cardinality, despite fixed prior beliefs. Hence, there can be different equilibrium...
Persistent link: https://www.econbiz.de/10008810295
The paper shows that Perfect Bayesian equilibria need not be unique in the strategic communication game of Crawford and Sobel (1982). First, different equilibrium partitions of the state space can have equal cardinality, despite fixed prior beliefs. Hence, there can be different equilibrium...
Persistent link: https://www.econbiz.de/10013095957