AbstractA scheme of plain conversation is constructed, which is a universal mechanism for all noncooperative games with incomplete information with at least four players, in the following sense: every solution that can be achieved by means of an arbitrary communication mechanism is a correlated equilibrium payoff of the game extended by the scheme of plain conversation. By a property of the correlated equilibrium, a similar result holds also with the Nash equilibrium solution concept. The universal mechanism can be used without any loss of efficiency. Copyright 1990 by The Econometric Society.
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Bibliographic InfoPaper provided by Université catholique de Louvain, Center for Operations Research and Econometrics (CORE) in its series CORE Discussion Papers with number 1987004.
Date of creation: 01 Jan 1987
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