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This paper presents new results on the existence of Bayesian equilibria in pure strategies of a specified functional form. These results broaden the scope of methods developed by Reny (2011) well beyond monotone pure strategies. Applications include natural models of first-price and all-pay...
Persistent link: https://www.econbiz.de/10014243468
This paper presents new results on the existence of Bayesian equilibria in pure strategies of a specified functional form. These results broaden the scope of methods developed by Reny (2011) well beyond monotone pure strategies. Applications include natural models of first-price and all-pay...
Persistent link: https://www.econbiz.de/10014243562
TAn imitation game is a finite two person normal form game in which the two players have the same set of pure strategies and the goal of the second player is to choose the same pure strategy as the first player. Gale et al. (1950) gave a way of passing from a given two person game to a symmetric...
Persistent link: https://www.econbiz.de/10005731026
We present a complete, separable and metrizable topology on the product space of information and (subjective) beliefs. Such a topology formalizes similarity of differential information without the assumption of a common prior, but under the assumption that objectively impossible events are...
Persistent link: https://www.econbiz.de/10005388062
Persistent link: https://www.econbiz.de/10005388109
We give simple proofs of refinements of the complexity results of Gilboa and Zemel (1989), and we derive additional results of this sort. Our constructions employ imitation games, which are two person games in which both players have the same sets of pure strategies and the second player wishes...
Persistent link: https://www.econbiz.de/10008565476
We study party formation in a general model of collective decision-making, modelling parties as agglomerations of policy positions championed by decision-makers. We show that in the presence of economies of party size and a one-dimensional policy space, players agglomerate into exactly two...
Persistent link: https://www.econbiz.de/10005704826
We study the implications of economies of party size in a model of party formation. We show that when the policy space is one-dimensional, candidates form at most two parties. This result does not depend on the magnitude of the economies of party size or sensitively on the nature of the...
Persistent link: https://www.econbiz.de/10005827225