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We present a cheap talk extension to any two-player, finite, complete information game, and ask what correlations over actions are implementable in Nash equilibria of the extended game. In the extension, players communicate repeatedly through a detail-free mediator that has been studied in...
Persistent link: https://www.econbiz.de/10011049807
We present an extension to any finite complete information game with two players. In the extension, players are allowed to communicate directly and, additionally, send private messages to a simple, detail-free mediator, which, in turn, makes public announcements as a deterministic function of...
Persistent link: https://www.econbiz.de/10010288757
We present an extension to any finite complete information game with two players. In the extension, players are allowed to communicate directly and, additionally, send private messages to a simple, detail-free mediator, which, in turn, makes public announcements as a deterministic function of...
Persistent link: https://www.econbiz.de/10009532204
Persistent link: https://www.econbiz.de/10010358104
We study a sealed-bid auction between two bidders with asymmetric independent private values. The two bidders own asymmetric shares in a partnership. The higher bidder buys the lower bidderʼs shares at a per-unit price that is a convex combination of the two bids. The weight of the lower bid is...
Persistent link: https://www.econbiz.de/10011049794
Two players can make use of a trusted third party who mediates and partially resolves their conflict. Usually, the mediator should be aware of the situation and give suggestions to the players accordingly. However, a corrupt mediator can have a big influence on the outcome of the game. We single...
Persistent link: https://www.econbiz.de/10005590068
Two players can make use of a trusted third party who mediates and partially resolves their conflict. Usually, the mediator should be aware of the situation and give suggestions to the players accordingly. However, a corrupt mediator can have a big influence on the outcome of the game. We single...
Persistent link: https://www.econbiz.de/10010494330
Two players can make use of a trusted third party who mediates and partially resolves their conflict. Usually, the mediator should be aware of the situation and give suggestions to the players accordingly. However, a corrupt mediator can have a big influence on the outcome of the game. We single...
Persistent link: https://www.econbiz.de/10011560827
We consider a random-matching model in which every agent has a categorization (partition) of his potential opponents. In equilibrium, the strategy of each player is a best response to the distribution of actions of his opponents in each category of his categorization. We provide equivalence...
Persistent link: https://www.econbiz.de/10005837081
We show that essentially every communication equilibrium of any finite Bayesian game with two players can be implemented as a strategic form correlated equilibrium of an extended game, in which before choosing actions as in the Bayesian game, the players engage in a possibly infinitely long (but...
Persistent link: https://www.econbiz.de/10009416868