Signaling, Globality, and the Intuitive Criterion
AbstractA global signaling game is a sender-receiver game in which the sender is only imperfectly informed about the receiver's preferences. The paper considers an economically relevant class of signaling games that possess more than one Perfect Bayesian equilibrium. For this class of games, it is shown that a Perfect Bayesian equilibrium is unaffected by a small perturbation of the information structure if and only if it is consistent with a criterion suggested by Cho and Kreps (1987). Moreover, the equilibrium in the global signaling game is essentially unique.
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Bibliographic InfoPaper provided by Institute for Empirical Research in Economics - University of Zurich in its series IEW - Working Papers with number 189.
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Global Games; Signaling; Intuitive Criterion;
Find related papers by JEL classification:
- C72 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Noncooperative Games
This paper has been announced in the following NEP Reports:
- NEP-ALL-2004-08-23 (All new papers)
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