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Sequential equilibria in Bayesian games with communication

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  • Gerardi, Dino
  • Myerson, Roger B.

Abstract

We study the effects of communication in Bayesian games when the players are sequentially rational but some combinations of types have zero probability. Not all communication equilibria can be implemented as sequential equilibria. We define the set of strong sequential equilibria (SSCE) and characterize it. SSCE differs from the concept of sequential communication equilibrium (SCE) defined by Myerson (1986) in that SCE allows the possibility of trembles by the mediator. We show that these two concepts coincide when there are three or more players, but the set of SSCE may be strictly smaller than the set of SCE for two-player games.

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Bibliographic Info

Article provided by Elsevier in its journal Games and Economic Behavior.

Volume (Year): 60 (2007)
Issue (Month): 1 (July)
Pages: 104-134

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Handle: RePEc:eee:gamebe:v:60:y:2007:i:1:p:104-134

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Web page: http://www.elsevier.com/locate/inca/622836

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References

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  1. Forges, Francoise, 1990. "Universal Mechanisms," Econometrica, Econometric Society, vol. 58(6), pages 1341-64, November.
  2. Roger B. Myerson, 1984. "Multistage Games with Communication," Discussion Papers 590, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
  3. F. Forges, 2010. "An Approach to Communication Equilibrium," Levine's Working Paper Archive 516, David K. Levine.
  4. DHILLON, Amrita & MERTENS, Jean-François, 1992. "Perfect correlated equilibria," CORE Discussion Papers 1992039, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
  5. AUMANN, Robert J., . "Subjectivity and correlation in randomized strategies," CORE Discussion Papers RP -167, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
  6. Dino Gerardi, 2002. "Unmediated Communication in Games with Complete and Incomplete Information," Cowles Foundation Discussion Papers 1371, Cowles Foundation for Research in Economics, Yale University.
  7. David M Kreps & Robert Wilson, 2003. "Sequential Equilibria," Levine's Working Paper Archive 618897000000000813, David K. Levine.
  8. Robert J. Aumann & Sergiu Hart, 2002. "Long Cheap Talk," Discussion Paper Series dp284, The Center for the Study of Rationality, Hebrew University, Jerusalem, revised Nov 2002.
  9. Ben-Porath, Elchanan, 2003. "Cheap talk in games with incomplete information," Journal of Economic Theory, Elsevier, vol. 108(1), pages 45-71, January.
  10. Amparo Urbano & Jose E. Vila, 2002. "Computational Complexity and Communication: Coordination in Two-Player Games," Econometrica, Econometric Society, vol. 70(5), pages 1893-1927, September.
  11. Myerson, Roger B., 1982. "Optimal coordination mechanisms in generalized principal-agent problems," Journal of Mathematical Economics, Elsevier, vol. 10(1), pages 67-81, June.
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Cited by:
  1. Dai Zusai, 2012. "Excess Liquidity against Predation," DETU Working Papers 1201, Department of Economics, Temple University.
  2. Izmalkov, Sergei & Lepinski, Matt & Micali, Silvio, 2011. "Perfect implementation," Games and Economic Behavior, Elsevier, vol. 71(1), pages 121-140, January.
  3. Forges, Françoise, 2010. "Communication in Bayesian games: Overview of work on implementing mediators in game theory," Economics Papers from University Paris Dauphine 123456789/5279, Paris Dauphine University.

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