On the Rule of Chance Moves and Information in Two-Person Games
AbstractThe value of information has been the subject of many studies in a strategic context.The central question in these studies is how valuable the information hidden in the chance moves of a game is for one or more of the players.Generally speaking, only the extra possibilities that are beneficial for the players have been considered so far.In this note we study the value of information for a special class of two-person games.For these games we also investigate how badly the players can do, both with and without knowing the result of the chance move. In this way one can determine to what extent the players are restricted in their possibilities by the fact that some information is hidden in the chance moves of the games.This allows for a comparison of the influence of the chance move to the control that the players have over the game result.
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Bibliographic InfoPaper provided by Tilburg University, Center for Economic Research in its series Discussion Paper with number 2003-100.
Date of creation: 2003
Date of revision:
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Web page: http://center.uvt.nl
information; games; control;
Other versions of this item:
- Marcel Dreef & Peter Borm, 2006. "On the role of chance moves and information in two-person games," TOP: An Official Journal of the Spanish Society of Statistics and Operations Research, Springer, vol. 14(1), pages 75-98, June.
- C72 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Noncooperative Games
- D82 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Asymmetric and Private Information; Mechanism Design
This paper has been announced in the following NEP Reports:
- NEP-ALL-2003-12-07 (All new papers)
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
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- Marcel Dreef & Peter Borm & Ben van der Genugten, 2004.
"A new relative skill measure for games with chance elements,"
Managerial and Decision Economics,
John Wiley & Sons, Ltd., vol. 25(5), pages 255-264.
- Dreef, M.R.M. & Borm, P.E.M. & Genugten, B.B. van der, 2001. "A New Relative Skill Measure for Games with Chance Elements," Discussion Paper 2001-106, Tilburg University, Center for Economic Research.
- Dreef, M.R.M. & Borm, P.E.M. & Genugten, B.B. van der, 2004. "A new relative skill measure for games with chance elements," Open Access publications from Tilburg University urn:nbn:nl:ui:12-140730, Tilburg University.
- Peter Borm & Ben Genugten, 2001.
"On a relative measure of skill for games with chance elements,"
TOP: An Official Journal of the Spanish Society of Statistics and Operations Research,
Springer, vol. 9(1), pages 91-114, June.
- Borm, P.E.M. & Genugten, B.B. van der, 2001. "On a relative measure of skill for games with chance elements," Open Access publications from Tilburg University urn:nbn:nl:ui:12-88286, Tilburg University.
- Borm, P.E.M., 1988. "Information types: A comparison," Open Access publications from Tilburg University urn:nbn:nl:ui:12-146572, Tilburg University.
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