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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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    Cited by:

    1. Salomon, Antoine & Forges, Françoise, 2015. "Bayesian repeated games and reputation," Journal of Economic Theory, Elsevier, vol. 159(PA), pages 70-104.
    2. Forges, Françoise & Horst, Ulrich, 2018. "Sender–receiver games with cooperation," Journal of Mathematical Economics, Elsevier, vol. 76(C), pages 52-61.
    3. 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.
    4. Tajika Tomoya, 2020. "Regular Equilibria and Negative Welfare Implications in Delegation Games," The B.E. Journal of Theoretical Economics, De Gruyter, vol. 20(1), pages 1-17, January.
    5. Gorkem Celik & Michael Peters, 2016. "Reciprocal relationships and mechanism design," Canadian Journal of Economics/Revue canadienne d'économique, John Wiley & Sons, vol. 49(1), pages 374-411, February.
    6. Benjamin N. Roth & Ran I. Shorrer, 2021. "Making Marketplaces Safe: Dominant Individual Rationality and Applications to Market Design," Management Science, INFORMS, vol. 67(6), pages 3694-3713, June.

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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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