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Evaluating information in zero-sum games with incomplete information on both sides

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Author Info
Bernard De Meyer () (Centre d'Economie de la Sorbonne)
Ehud Lehrer () (School of Mathematical Sciences - Tel Aviv University)
Dinah Rosenberg () (LAGA Institut Galilée - Université Paris 13)

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Abstract

In a Bayesian game some players might receive a noisy signal regarding the specific game actually being played before it starts. We study zero-sum games where each player receives a partial information about his own type and no information about that of the other player and analyze the impact the signals have on the payoffs. It turns out that the functions that evaluate the value of information share two property. The first is Blackwell monotonicity, which means that each player gains from knowing more. The second is concavity on the space of conditional probabilities.

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Publisher Info
Paper provided by Université Panthéon-Sorbonne (Paris 1), Centre d'Economie de la Sorbonne in its series Documents de travail du Centre d'Economie de la Sorbonne with number 09035.

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Length: 31 pages
Date of creation: May 2009
Date of revision:
Handle: RePEc:mse:cesdoc:09035

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Web page: http://ces.univ-paris1.fr/
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Related research
Keywords: Value of information; Blackwell monotonicity; concavity.;

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Find related papers by JEL classification:
C72 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Noncooperative Games
C73 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Stochastic and Dynamic Games; Evolutionary Games
D80 - Microeconomics - - Information, Knowledge, and Uncertainty - - - General
D82 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Asymmetric and Private Information
D83 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Search, Learning, and Information

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This page was last updated on 2009-11-23.

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