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On the role of chance moves and information in two-person games

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Author Info
Dreef, M.R.M.
Borm, P.E.M. (Tilburg University, Center for Economic Research)

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Abstract

The 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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Paper provided by Tilburg University, Center for Economic Research in its series Discussion Paper with number 100.

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Date of creation: 2003
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Handle: RePEc:dgr:kubcen:2003100

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Find related papers by JEL classification:
C72 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Noncooperative Games
D82 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Asymmetric and Private Information

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References listed on IDEAS
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.:
  1. 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. [Downloadable!]
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  2. Reijnierse, H. & Borm, P. & Voorneveld, M., 2003. "Informationally robust equilibria," Discussion Paper 14, Tilburg University, Center for Economic Research. [Downloadable!]
  3. 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. [Downloadable!] (restricted)
  4. Dreef, M. & Borm, P. & Genugten, B. van der, 2003. "Measuring skill in games: several approaches discussed," Discussion Paper 9, Tilburg University, Center for Economic Research. [Downloadable!]
  5. Borm, Peter & Garcia-Jurado, Ignacio & Potters, Jos & Tijs, Stef, 1996. "An amalgation of games," European Journal of Operational Research, Elsevier, vol. 89(3), pages 570-580, March. [Downloadable!] (restricted)
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(explanations, 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.)

  1. Dreef, M. & Borm, P. & Genugten, B. van der, 2003. "Measuring skill in games: several approaches discussed," Discussion Paper 9, Tilburg University, Center for Economic Research. [Downloadable!]
  2. 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. [Downloadable!]
    Other versions:
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