Correlated equilibrium with generalized information structures
AbstractWe study the "generalized correlated equilibria" of a game when players make information processing errors. It is shown that the assumption of information processing errors is equivalent to that of "subjectivity" (i.e., differences between the players' priors). Hence a bounded rationality justification of subjective priors is provided. We also describe the set of distributions on actions induced by generalized correlated equilibria with common priors.
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Bibliographic InfoArticle provided by Elsevier in its journal Games and Economic Behavior.
Volume (Year): 4 (1992)
Issue (Month): 2 (April)
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Web page: http://www.elsevier.com/locate/inca/622836
Other versions of this item:
- Geanakoplos & Adam Brandenburger & Eddie Dekel, 1988. "Correlated Equilibrium with Generalized Information Structures," Cowles Foundation Discussion Papers 884R, Cowles Foundation for Research in Economics, Yale University, revised Aug 1989.
- C22 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models
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- Fredrik Andersson, 1999. "Uncertainty aversion in a simple insurance model," Finnish Economic Papers, Finnish Economic Association, vol. 12(1), pages 16-27, Spring.
- Gossner, Olivier & Tsakas, Elias, 2007. "Testing Rationality on Primitive Knowledge," Working Papers in Economics 275, University of Gothenburg, Department of Economics.
- Xiao Luo & Yi-Chun Chen, 2004. "A Unified Approach to Information, Knowledge, and Stability," Econometric Society 2004 Far Eastern Meetings 472, Econometric Society.
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