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A folk theorem for Bayesian games with commitment

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  • Forges, Françoise

Abstract

The set of all Bayesian–Nash equilibrium payoffs that the players can achieve by making conditional commitments at the interim stage of a Bayesian game coincides with the set of all feasible, incentive compatible and interim individually rational payoffs of the Bayesian game. Furthermore, the various equilibrium payoffs, which are achieved by means of different commitment devices, are also the equilibrium payoffs of a universal, deterministic commitment game.

Suggested Citation

  • Forges, Françoise, 2013. "A folk theorem for Bayesian games with commitment," Games and Economic Behavior, Elsevier, vol. 78(C), pages 64-71.
  • Handle: RePEc:eee:gamebe:v:78:y:2013:i:c:p:64-71
    DOI: 10.1016/j.geb.2012.11.004
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    References listed on IDEAS

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    1. Michael Peters & Balázs Szentes, 2012. "Definable and Contractible Contracts," Econometrica, Econometric Society, vol. 80(1), pages 363-411, January.
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    3. Tennenholtz, Moshe, 2004. "Program equilibrium," Games and Economic Behavior, Elsevier, vol. 49(2), pages 363-373, November.
    4. Kalai, Adam Tauman & Kalai, Ehud & Lehrer, Ehud & Samet, Dov, 2010. "A commitment folk theorem," Games and Economic Behavior, Elsevier, vol. 69(1), pages 127-137, May.
    5. Forges, Francoise, 1992. "Repeated games of incomplete information: Non-zero-sum," Handbook of Game Theory with Economic Applications, in: R.J. Aumann & S. Hart (ed.), Handbook of Game Theory with Economic Applications, edition 1, volume 1, chapter 6, pages 155-177, Elsevier.
    6. Biran, Omer & Forges, Françoise, 2011. "Core-stable rings in auctions with independent private values," Games and Economic Behavior, Elsevier, vol. 73(1), pages 52-64, September.
    7. Ashlagi, Itai & Monderer, Dov & Tennenholtz, Moshe, 2009. "Mediators in position auctions," Games and Economic Behavior, Elsevier, vol. 67(1), pages 2-21, September.
    8. Francoise Forges & Jean-Francois Mertens & Rajiv Vohra, 2002. "The Ex Ante Incentive Compatible Core in the Absence of Wealth Effects," Econometrica, Econometric Society, vol. 70(5), pages 1865-1892, September.
    9. repec:dau:papers:123456789/5454 is not listed on IDEAS
    10. repec:dau:papers:123456789/4100 is not listed on IDEAS
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    Citations

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    Cited by:

    1. Francoise Forges & Antoine Salomon, 2014. "Bayesian Repeated Games and Reputations," CESifo Working Paper Series 4700, CESifo.
    2. Salomon, Antoine & Forges, Françoise, 2015. "Bayesian repeated games and reputation," Journal of Economic Theory, Elsevier, vol. 159(PA), pages 70-104.
    3. Forges, Françoise & Horst, Ulrich, 2018. "Sender–receiver games with cooperation," Journal of Mathematical Economics, Elsevier, vol. 76(C), pages 52-61.
    4. Françoise Forges & Ulrich Horst & Antoine Salomon, 2016. "Feasibility and individual rationality in two-person Bayesian games," International Journal of Game Theory, Springer;Game Theory Society, vol. 45(1), pages 11-36, March.
    5. Gorkem Celik & Michael Peters, 2016. "Reciprocal relationships and mechanism design," Canadian Journal of Economics, Canadian Economics Association, vol. 49(1), pages 374-411, February.

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    More about this item

    Keywords

    Bayesian game; Commitment; Contract; Incentive compatibility; Interim individual rationality;
    All these keywords.

    JEL classification:

    • C70 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - General

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