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Let G=<I,J,g> be a two-person zero-sum game. We examine the two-person zero-sum repeated game G(k,m) in which players 1 and 2 place down finite state automata with k,m states respectively and the payoff is the average per-stage payoff when the two automata face off. We are interested in the cases in...</i,j,g>
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The variation of a martingale m[k] of k+1 probability measures p(0),...,p(k) on a finite (or countable) set X is the expectation of the sum of ||p(t)-p(t-1)|| (the L one norm of the martingale differences p(t)-p(t-1)), and is denoted V(m[k]). It is shown that V(m[k]) is less than or equal to the...
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We study a repeated game with asymmetric information about a dynamic state of nature. In the course of the game, the better-informed player can communicate some or all of his information to the other. Our model covers costly and&sol;or bounded communication. We characterize the set of equilibrium...
Persistent link: https://www.econbiz.de/10005130087
It is known that the value of a zero-sum infinitely repeated game with incomplete information on both sides need not exist [Aumann Maschler 95]. It is proved that any number between the minmax and the maxmin of the zero-sum infinitely repeated game with incomplete information on both sides is...
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The paper initiates the study of long term interactions where players' bounded rationality varies over time. Time dependent bounded rationality, for player i, is reflected in part in the number [psi]i(t) of distinct strategies available to him in the first t-stages. We examine how the growth...
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