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Garbling of signals and outcome equivalence

Author

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  • Lehrer, Ehud
  • Rosenberg, Dinah
  • Shmaya, Eran

Abstract

In a game with incomplete information players receive stochastic signals about the state of nature. The distribution of the signals given the state of nature is determined by the information structure. Different information structures may induce different equilibria.

Suggested Citation

  • Lehrer, Ehud & Rosenberg, Dinah & Shmaya, Eran, 2013. "Garbling of signals and outcome equivalence," Games and Economic Behavior, Elsevier, vol. 81(C), pages 179-191.
  • Handle: RePEc:eee:gamebe:v:81:y:2013:i:c:p:179-191
    DOI: 10.1016/j.geb.2013.05.005
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    References listed on IDEAS

    as
    1. Françoise Forges, 2006. "Correlated Equilibrium in Games with Incomplete Information Revisited," Theory and Decision, Springer, vol. 61(4), pages 329-344, December.
    2. Dirk Bergemann & Stephen Morris, 2013. "Robust Predictions in Games With Incomplete Information," Econometrica, Econometric Society, vol. 81(4), pages 1251-1308, July.
    3. Cotter, Kevin D., 1991. "Correlated equilibrium in games with type-dependent strategies," Journal of Economic Theory, Elsevier, vol. 54(1), pages 48-68, June.
    4. Dirk Bergemann & Stephen Morris, 2013. "Robust Predictions in Games With Incomplete Information," Econometrica, Econometric Society, vol. 81(4), pages 1251-1308, July.
    5. Ely, Jeffrey C. & Peski, Marcin, 2006. "Hierarchies of belief and interim rationalizability," Theoretical Economics, Econometric Society, vol. 1(1), pages 19-65, March.
    6. Gossner, Olivier, 2000. "Comparison of Information Structures," Games and Economic Behavior, Elsevier, vol. 30(1), pages 44-63, January.
    7. Dekel, Eddie & Fudenberg, Drew & Morris, Stephen, 2007. "Interim correlated rationalizability," Theoretical Economics, Econometric Society, vol. 2(1), pages 15-40, March.
    8. Aumann, Robert J, 1987. "Correlated Equilibrium as an Expression of Bayesian Rationality," Econometrica, Econometric Society, vol. 55(1), pages 1-18, January.
    9. Peski, Marcin, 2008. "Comparison of information structures in zero-sum games," Games and Economic Behavior, Elsevier, vol. 62(2), pages 732-735, March.
    10. Aumann, Robert J., 1974. "Subjectivity and correlation in randomized strategies," Journal of Mathematical Economics, Elsevier, vol. 1(1), pages 67-96, March.
    11. Lehrer, Ehud & Rosenberg, Dinah & Shmaya, Eran, 2010. "Signaling and mediation in games with common interests," Games and Economic Behavior, Elsevier, vol. 68(2), pages 670-682, March.
    12. FORGES , Françoise, 1993. "Five Legitimate Definitions of Correlated Equilibrium in Games with Incomplete Information," CORE Discussion Papers 1993009, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
    13. Igal Milchtaich, 2009. "Implementability of Correlated and Communication Equilibrium Outcomes in Incomplete Information Games," Working Papers 2009-27, Bar-Ilan University, Department of Economics.
    14. repec:cwl:cwldpp:1821rrr is not listed on IDEAS
    15. Hirshleifer, Jack, 1971. "The Private and Social Value of Information and the Reward to Inventive Activity," American Economic Review, American Economic Association, vol. 61(4), pages 561-574, September.
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    Citations

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    Cited by:

    1. Bergemann, Dirk & Morris, Stephen, 2016. "Bayes correlated equilibrium and the comparison of information structures in games," Theoretical Economics, Econometric Society, vol. 11(2), May.
    2. Kolotilin, Anton, 2015. "Experimental design to persuade," Games and Economic Behavior, Elsevier, vol. 90(C), pages 215-226.
    3. Tang, Qianfeng, 2015. "Hierarchies of beliefs and the belief-invariant Bayesian solution," Journal of Mathematical Economics, Elsevier, vol. 59(C), pages 111-116.
    4. Taneva, Ina A, 2015. "Information Design," SIRE Discussion Papers 2015-50, Scottish Institute for Research in Economics (SIRE).
    5. repec:spr:jogath:v:46:y:2017:i:3:d:10.1007_s00182-016-0547-5 is not listed on IDEAS
    6. Fabrizio Germano & Peio Zuazo-Garin, 2017. "Bounded rationality and correlated equilibria," International Journal of Game Theory, Springer;Game Theory Society, vol. 46(3), pages 595-629, August.
    7. Martin Gregor, 2014. "Access fees for competing lobbies," Working Papers IES 2014/22, Charles University Prague, Faculty of Social Sciences, Institute of Economic Studies, revised Jul 2014.
    8. Tang, Qianfeng, 2015. "Interim partially correlated rationalizability," Games and Economic Behavior, Elsevier, vol. 91(C), pages 36-44.
    9. Ina A Taneva, 2015. "Information Design," ESE Discussion Papers 256, Edinburgh School of Economics, University of Edinburgh.

    More about this item

    Keywords

    Incomplete information; Information structure; Correlated equilibrium; Garbling; Robustness;

    JEL classification:

    • D82 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Asymmetric and Private Information; Mechanism Design

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