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On the role of chance moves and information in two-person games

  • Marcel Dreef

    ()

  • Peter Borm

    ()

The value of information has been the subject of many studies in a strategic context.The central question in these studies is how valuable the information hidden in the chance moves of a game is for one or more of the players.Generally speaking, only the extra possibilities that are beneficial for the players have been considered so far.In this note we study the value of information for a special class of two-person games.For these games we also investigate how badly the players can do, both with and without knowing the result of the chance move. In this way one can determine to what extent the players are restricted in their possibilities by the fact that some information is hidden in the chance moves of the games.This allows for a comparison of the influence of the chance move to the control that the players have over the game result.

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File URL: http://hdl.handle.net/10.1007/BF02579003
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Article provided by Springer in its journal Top.

Volume (Year): 14 (2006)
Issue (Month): 1 (June)
Pages: 75-98

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Handle: RePEc:spr:topjnl:v:14:y:2006:i:1:p:75-98
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  1. Jean-Pierre Ponssard, 1976. "On the Concept of the Value of Information in Competitive Situations," Management Science, INFORMS, vol. 22(7), pages 739-747, March.
  2. J. A. K., 1985. "Introduction," Journal of Post Keynesian Economics, M.E. Sharpe, Inc., vol. 7(4), pages 504-507, July.
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  4. Voorneveld, M., 1999. "Potential games and interactive decisions with multiple criteria," Other publications TiSEM 29d7b372-7a4e-4db7-b66c-f, Tilburg University, School of Economics and Management.
  5. Borm, P.E.M. & van der Genugten, B.B., 2001. "On a relative measure of skill for games with chance elements," Other publications TiSEM 42a0632e-2ce1-4414-9254-3, Tilburg University, School of Economics and Management.
  6. Dreef, M.R.M. & Borm, P.E.M. & van der Genugten, B.B., 2001. "A New Relative Skill Measure for Games with Chance Elements," Discussion Paper 2001-106, Tilburg University, Center for Economic Research.
  7. Bester, H. & Güth, W., 1994. "Is altruism evolutionarily stable ?," Discussion Paper 1994-103, Tilburg University, Center for Economic Research.
  8. Kamien, Morton I. & Tauman, Yair & Zamir, Shmuel, 1990. "On the value of information in a strategic conflict," Games and Economic Behavior, Elsevier, vol. 2(2), pages 129-153, June.
  9. Borm, P.E.M. & Dreef, M.R.M. & van der Genugten, B.B., 2004. "Measuring skill in games : Several approaches discussed," Other publications TiSEM 2e5d4c52-1421-4311-bb4a-c, Tilburg University, School of Economics and Management.
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  11. repec:spr:compst:v:59:y:2004:i:3:p:375-391 is not listed on IDEAS
  12. Borm, P.E.M., 1988. "Information types : A comparison," Other publications TiSEM 0ddbc43d-3437-4f57-9e83-d, Tilburg University, School of Economics and Management.
  13. repec:ner:tilbur:urn:nbn:nl:ui:12-140730 is not listed on IDEAS
  14. Borm, Peter & Garcia-Jurado, Ignacio & Potters, Jos & Tijs, Stef, 1996. "An amalgation of games," European Journal of Operational Research, Elsevier, vol. 89(3), pages 570-580, March.
  15. repec:ner:tilbur:urn:nbn:nl:ui:12-80720 is not listed on IDEAS
  16. Dreef, M.R.M. & Borm, P.E.M. & van der Genugten, B.B., 2004. "A new relative skill measure for games with chance elements," Other publications TiSEM e54422a6-f71a-4262-b7fc-1, Tilburg University, School of Economics and Management.
  17. Peter Borm & Ben Genugten, 2001. "On a relative measure of skill for games with chance elements," TOP: An Official Journal of the Spanish Society of Statistics and Operations Research, Springer, vol. 9(1), pages 91-114, June.
  18. repec:ner:tilbur:urn:nbn:nl:ui:12-148577 is not listed on IDEAS
  19. Borm, P.E.M. & Garcia Jurado, I. & Potters, J.A.M. & Tijs, S.H., 1996. "An amalgamation of games," Other publications TiSEM 41c72009-ce95-4852-a517-9, Tilburg University, School of Economics and Management.
  20. Jean-Pierre Ponssard, 1975. "Zero-Sum Games with "Almost" Perfect Information," Management Science, INFORMS, vol. 21(7), pages 794-805, March.
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  22. Marcel Dreef & Peter Borm & Ben van der Genugten, 2004. "Measuring skill in games: several approaches discussed," Mathematical Methods of Operations Research, Springer, vol. 59(3), pages 375-391, 07.
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