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Dynamic Games with Hidden Actions and Hidden States

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  • Cole, Harold L.
  • Kocherlakota, Narayana

Abstract

We consider a class of dynamic games in which each player’s actions are unobservable to the other players and each player’s actions can influence a state variable that is unobservable to the other players. We develop an algorithm that solves for the subset of sequential equilibria in which equilibrium strategies depend on private information only through the privately observed state.
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  • Cole, Harold L. & Kocherlakota, Narayana, 2001. "Dynamic Games with Hidden Actions and Hidden States," Journal of Economic Theory, Elsevier, vol. 98(1), pages 114-126, May.
  • Handle: RePEc:eee:jetheo:v:98:y:2001:i:1:p:114-126
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    7. Abreu, Dilip & Pearce, David & Stacchetti, Ennio, 1990. "Toward a Theory of Discounted Repeated Games with Imperfect Monitoring," Econometrica, Econometric Society, vol. 58(5), pages 1041-1063, September.
    8. Abreu, Dilip & Pearce, David & Stacchetti, Ennio, 1986. "Optimal cartel equilibria with imperfect monitoring," Journal of Economic Theory, Elsevier, vol. 39(1), pages 251-269, June.
    9. Harold L. Cole & Narayana R. Kocherlakota, 2001. "Efficient Allocations with Hidden Income and Hidden Storage," Review of Economic Studies, Oxford University Press, vol. 68(3), pages 523-542.
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    Cited by:

    1. Doepke, Matthias & Townsend, Robert M., 2006. "Dynamic mechanism design with hidden income and hidden actions," Journal of Economic Theory, Elsevier, vol. 126(1), pages 235-285, January.
    2. Kimmo Berg, 2016. "Elementary Subpaths in Discounted Stochastic Games," Dynamic Games and Applications, Springer, vol. 6(3), pages 304-323, September.
    3. Susan Athey & Kyle Bagwell, 2008. "Collusion With Persistent Cost Shocks," Econometrica, Econometric Society, vol. 76(3), pages 493-540, May.
    4. Johannes Hörner & Satoru Takahashi & Nicolas Vieille, 2015. "Truthful Equilibria in Dynamic Bayesian Games," Econometrica, Econometric Society, vol. 83(5), pages 1795-1848, September.
    5. Doraszelski, Ulrich & Escobar, Juan F., 2012. "Restricted feedback in long term relationships," Journal of Economic Theory, Elsevier, vol. 147(1), pages 142-161.
    6. Fernandes, Ana & Phelan, Christopher, 2000. "A Recursive Formulation for Repeated Agency with History Dependence," Journal of Economic Theory, Elsevier, vol. 91(2), pages 223-247, April.
    7. Łukasz Balbus & Łukasz Woźny, 2016. "A Strategic Dynamic Programming Method for Studying Short-Memory Equilibria of Stochastic Games with Uncountable Number of States," Dynamic Games and Applications, Springer, vol. 6(2), pages 187-208, June.
    8. Mitri Kitti, 2013. "Conditional Markov equilibria in discounted dynamic games," Mathematical Methods of Operations Research, Springer;Gesellschaft für Operations Research (GOR);Nederlands Genootschap voor Besliskunde (NGB), vol. 78(1), pages 77-100, August.
    9. repec:spr:compst:v:78:y:2013:i:1:p:77-100 is not listed on IDEAS
    10. Zhuang, Jun & Bier, Vicki M. & Alagoz, Oguzhan, 2010. "Modeling secrecy and deception in a multiple-period attacker-defender signaling game," European Journal of Operational Research, Elsevier, vol. 203(2), pages 409-418, June.
    11. Abraham Arpad & Nicola Pavoni, 2004. "Efficient Allocations, with Moral Hazard and Hidden Borrowing and Lending," Levine's Bibliography 122247000000000138, UCLA Department of Economics.
    12. Arpad Abraham & Nicola Pavoni, 2008. "Efficient Allocations with Moral Hazard and Hidden Borrowing and Lending: A Recursive Formulation," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 11(4), pages 781-803, October.
    13. Łukasz Balbus & Kevin Reffett & Łukasz Woźny, 2013. "Markov Stationary Equilibria in Stochastic Supermodular Games with Imperfect Private and Public Information," Dynamic Games and Applications, Springer, vol. 3(2), pages 187-206, June.

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