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Sequential Equilibria in Bayesian Games with Communication

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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

Paper provided by Cowles Foundation for Research in Economics, Yale University in its series Cowles Foundation Discussion Papers with number 1542.

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Length: 39 pages
Date of creation: Dec 2005
Date of revision:
Publication status: Published in Games and Economic Behavior (2007), 60: 104-134
Handle: RePEc:cwl:cwldpp:1542

Note: CFP 1237.
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Keywords: Bayesian games; Communication; Communication equilibrium; Sequential communication equilibrium;

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References

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  1. Robert J. Aumann & Sergiu Hart, 2003. "Long Cheap Talk," Econometrica, Econometric Society, vol. 71(6), pages 1619-1660, November.
  2. David Kreps & Robert Wilson, 1998. "Sequential Equilibria," Levine's Working Paper Archive 237, David K. Levine.
  3. Aumann, Robert J., 1974. "Subjectivity and correlation in randomized strategies," Journal of Mathematical Economics, Elsevier, vol. 1(1), pages 67-96, March.
  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. 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.
  6. Forges, Francoise, 1990. "Universal Mechanisms," Econometrica, Econometric Society, vol. 58(6), pages 1341-64, November.
  7. Myerson, Roger B., 1982. "Optimal coordination mechanisms in generalized principal-agent problems," Journal of Mathematical Economics, Elsevier, vol. 10(1), pages 67-81, June.
  8. Ben-Porath, Elchanan, 2003. "Cheap talk in games with incomplete information," Journal of Economic Theory, Elsevier, vol. 108(1), pages 45-71, January.
  9. Forges, Francoise M, 1986. "An Approach to Communication Equilibria," Econometrica, Econometric Society, vol. 54(6), pages 1375-85, November.
  10. Gerardi, Dino, 2004. "Unmediated communication in games with complete and incomplete information," Journal of Economic Theory, Elsevier, vol. 114(1), pages 104-131, January.
  11. Roger B. Myerson, 1984. "Multistage Games with Communication," Discussion Papers 590, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
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Cited by:
  1. Izmalkov, Sergei & Lepinski, Matt & Micali, Silvio, 2011. "Perfect implementation," Games and Economic Behavior, Elsevier, vol. 71(1), pages 121-140, January.
  2. Forges, Françoise, 2012. "Correlated equilibria and communication in games," Open Access publications from Université Paris-Dauphine urn:hdl:123456789/171, Université Paris-Dauphine.
  3. Dai Zusai, 2012. "Excess Liquidity against Predation," DETU Working Papers 1201, Department of Economics, Temple University.

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