Conjugate duality of correlated equilibrium
AbstractThe play of a game is a public good because it is "consumed" by each of the players. We model the play as supplied by an organizer managing a team--the demanders of the public good whose actions are unobservable. Competition among organizers leads to a price-quantity description of efficient correlated equilibria, called incentive compatible Lindahl equilibria. Conjugate duality characterizations of the sets of (i) (non-incentive compatible) Lindahl equilibria for games in normal form, (ii) correlated equilibria, and (iii) incentive compatible Lindahl equilibria are compared.
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Bibliographic InfoArticle provided by Elsevier in its journal Journal of Mathematical Economics.
Volume (Year): 45 (2009)
Issue (Month): 12 (December)
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Web page: http://www.elsevier.com/locate/jmateco
Correlated equilibrium Lindahl equilibrium Conjugate duality;
Other versions of this item:
- Joseph M. Ostroy & Joon Song, 2006. "Correlated Equilibrium and the Pricing of Public Goods," Economics Discussion Papers 616, University of Essex, Department of Economics.
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