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Distributional Strategies for Games with Incomplete Information

Author

Listed:
  • Paul R. Milgrom

    (School of Organization and Management, Yale University, Box 1A, New Haven, Connecticut 06520)

  • Robert J. Weber

    (J. L. Kellogg Graduate School of Management, Northwestern University, Evanston, Illinois 60201)

Abstract

We study games with incomplete information from a point of view which emphasizes the empirical predictions arising from game-theoretic models. Using the notion of “distributional” strategies, we prove four main theorems: (i) a mixed-strategy Nash equilibrium existence theorem, (ii) a pure-strategy equilibrium existence theorem, (iii) a pure-strategy (epsilon)-equilibrium existence theorem, and (iv) a theorem describing how the set of equilibria of a game varies with the parameters of the game.

Suggested Citation

  • Paul R. Milgrom & Robert J. Weber, 1985. "Distributional Strategies for Games with Incomplete Information," Mathematics of Operations Research, INFORMS, vol. 10(4), pages 619-632, November.
  • Handle: RePEc:inm:ormoor:v:10:y:1985:i:4:p:619-632
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    File URL: http://dx.doi.org/10.1287/moor.10.4.619
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    References listed on IDEAS

    as
    1. Kreps, David M & Wilson, Robert, 1982. "Sequential Equilibria," Econometrica, Econometric Society, vol. 50(4), pages 863-894, July.
    2. Aumann, Robert J., 1974. "Subjectivity and correlation in randomized strategies," Journal of Mathematical Economics, Elsevier, vol. 1(1), pages 67-96, March.
    3. Engelbrecht-Wiggans, Richard & Milgrom, Paul R. & Weber, Robert J., 1983. "Competitive bidding and proprietary information," Journal of Mathematical Economics, Elsevier, vol. 11(2), pages 161-169, April.
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