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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 & Sociedad de Estadística e Investigación Operativa 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. Marcel Dreef & Peter Borm & Ben van der Genugten, 2004. "A new relative skill measure for games with chance elements," Managerial and Decision Economics, John Wiley & Sons, Ltd., vol. 25(5), pages 255-264.
  2. Jean-Pierre Ponssard, 1975. "Zero-Sum Games with "Almost" Perfect Information," Post-Print hal-00365730, HAL.
  3. 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.
  4. 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.
  5. Reijnierse, J.H. & Borm, P.E.M. & Voorneveld, M., 2003. "Informationally Robust Equlibria," Discussion Paper 2003-14, Tilburg University, Center for Economic Research.
  6. 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.
  7. Bester, Helmut & Guth, Werner, 1998. "Is altruism evolutionarily stable?," Journal of Economic Behavior & Organization, Elsevier, vol. 34(2), pages 193-209, February.
  8. Borm, P.E.M., 1988. "Information types : A comparison," Other publications TiSEM 0ddbc43d-3437-4f57-9e83-d, Tilburg University, School of Economics and Management.
  9. 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.
  10. 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.
  11. repec:spr:compst:v:59:y:2004:i:3:p:375-391 is not listed on IDEAS
  12. 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.
  13. 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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