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This note demonstrates that symmetric 3x3 supermodular games may fail to have any equilibrium robust to incomplete information. Since the global game solution in these games is known to be independent of the noise structure, our result implies that a noise-independent selection in global games...
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This note demonstrates that a symmetric 3x3 supermodular game may fail to have any equilibrium robust to incomplete information. Since the global game solution in symmetric 3x3 supermodular games is known to be independent of the noise structure, this result implies that a noise-independent...
Persistent link: https://www.econbiz.de/10013124968
This note demonstrates that a symmetric 3×3 supermodular game may fail to have any equilibrium robust to incomplete information. Since the global game solution in symmetric 3×3 supermodular games is known to be independent of the noise structure, this result implies that a noise-independent...
Persistent link: https://www.econbiz.de/10011065398
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This paper extends the framework of Kajii and Morris (1997) to study the question of robustness to incomplete information in repeated games. We show that dynamically robust equilibria can be characterized using a one-shot robustness principle that extends the one-shot deviation principle. Using...
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