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Persistent link: https://www.econbiz.de/10003362924
We study the robustness of cheap-talk equilibria to infinitesimal private information of the receiver in a model with a binary state-space and state-independent sender-preferences. We show that the sender-optimal equilibrium is robust if and only if this equilibrium either reveals no information...
Persistent link: https://www.econbiz.de/10014262083
Persistent link: https://www.econbiz.de/10003976375
Due to their many applications, large Bayesian games have been a subject of growing interest in game theory and related fields. But to a large extent, models (1) have been restricted to one-shot interaction, (2) are based on an assumption that player types are independent and (3) assume that the...
Persistent link: https://www.econbiz.de/10009733282
Persistent link: https://www.econbiz.de/10010358096
We study how to regulate a monopolistic firm using a robust-design, non-Bayesian approach. We derive a policy that minimizes the regulator's worst-case regret, where regret is the difference between the regulator's complete-information payoff and his realized payoff. When the regulator's payoff...
Persistent link: https://www.econbiz.de/10014356395