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This paper studies adaptive learning in the class of weighted network games. This class of games includes applications like research and development within interlinked firms, crime within social networks, the economics of pollution, and defense expenditures within allied nations. We show that...
Persistent link: https://www.econbiz.de/10012944776
A set of players have preferences over a set of outcomes. We consider the problem of an "information designer" who can choose an information structure for the players to serve his ends, but has no ability to change the mechanism (or force the players to make particular action choices). We...
Persistent link: https://www.econbiz.de/10013001526
A set of players have preferences over a set of outcomes. We consider the problem of an "information designer" who can choose an information structure for the players to serve his ends, but has no ability to change the mechanism (or force the players to make particular action choices). We...
Persistent link: https://www.econbiz.de/10013001549
This paper considers the robustness of equilibria to a small amount of incomplete information,where players are allowed to have heterogenous priors. An equilibrium of a complete information game is robust to incomplete information under non-common priors if for every incomplete information game...
Persistent link: https://www.econbiz.de/10012721291
We examine multistage information transmission with voluntary monetary transfer in the framework of Crawford and Sobel (1982). In our model, an informed expert can send messages to an uninformed decision maker more than once, and the uninformed decision maker can pay money to the informed expert...
Persistent link: https://www.econbiz.de/10011671657
We address the problem of a planner looking for the efficient network when agents play a network game with local complementarities and links are costly. We show that for general network cost functions, efficient networks belong to the class of Nested-Split Graphs. Next, we refine our results and...
Persistent link: https://www.econbiz.de/10011672127
A coordination game with incomplete information is played through time. In each period, payoffs depend on a fundamental state and an additional idiosyncratic shock. Fundamentals evolve according to a random walk where the changes in fundamentals (namely common shocks) have a fat tailed...
Persistent link: https://www.econbiz.de/10011573294
To help incorporate natural language into economic theory, this paper does two things. First, the paper extends to imperfect information games an equilibrium concept developed for incomplete information games, so natural language can be formalized as a vehicle to convey information about actions...
Persistent link: https://www.econbiz.de/10011346272
I study identification of games of incomplete information, both static and dynamic, when there are multiple equilibria in the data. In the case of static games, I show that if multiplicity disappears at a small subset of the support of the observables, payoffs are identified. All the equilibria...
Persistent link: https://www.econbiz.de/10012933771
Considered are imperfectly discriminating contests in which players may possess private information about the primitives of the game, such as the contest technology, valuations of the prize, cost functions, and budget constraints. We find general conditions under which a given contest of...
Persistent link: https://www.econbiz.de/10012936799