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Dual Reduction and Elementary Games

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  • Roger B. Myerson

Abstract

Consider the linear incentive constraints that define the correlated equilibria of a game. The duals of these constraints generate Markov chains on the players' strategy sets. The stationary distributions for these Markov chains can be interpreted as the strategies in a reduced game, which is called a dual reduction. Any equilibrium of a dual reduction is an equilibrium of the original game. We say that a game is elementary if all incentive constraints can be satisfied as strict inequalities in a correlated equilibrium. Any game can be reduced to an elementary game by iterative dual reduction.

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Paper provided by Northwestern University, Center for Mathematical Studies in Economics and Management Science in its series Discussion Papers with number 1133.

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Date of creation: Jun 1995
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Handle: RePEc:nwu:cmsems:1133

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  1. Aumann, Robert J., 1974. "Subjectivity and correlation in randomized strategies," Journal of Mathematical Economics, Elsevier, vol. 1(1), pages 67-96, March.
  2. Roger B. Myerson, 1984. "Acceptable and Predominant Correlated Equilibria," Discussion Papers 591, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
  3. Dhillon, Amrita & Mertens, Jean Francois, 1996. "Perfect Correlated Equilibria," Journal of Economic Theory, Elsevier, vol. 68(2), pages 279-302, February.
  4. repec:fth:louvco:9239 is not listed on IDEAS
  5. Nau, Robert F. & McCardle, Kevin F., 1990. "Coherent behavior in noncooperative games," Journal of Economic Theory, Elsevier, vol. 50(2), pages 424-444, April.
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