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Information design in multi-stage games

Author

Listed:
  • Makris, Miltiadis

    (Department of Economics, University of Essex)

  • Renou, Ludovic

    (School of Economics and Finance, Queen Mary University of London)

Abstract

This paper generalizes the concept of Bayes correlated equilibrium (Bergemann and Morris, 2016) to multi-stage games. We apply our characterization results to a number of illustrative examples and applications.

Suggested Citation

  • Makris, Miltiadis & Renou, Ludovic, 2023. "Information design in multi-stage games," Theoretical Economics, Econometric Society, vol. 18(4), November.
    • Handle: RePEc:the:publsh:4769
    as

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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. FORGES , Françoise, 1993. "Five Legitimate Definitions of Correlated Equilibrium in Games with Incomplete Information," LIDAM Discussion Papers CORE 1993009, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
    3. Forges, Francoise M, 1986. "An Approach to Communication Equilibria," Econometrica, Econometric Society, vol. 54(6), pages 1375-1385, November.
    4. repec:dau:papers:123456789/157 is not listed on IDEAS
    5. Myerson, Roger B, 1986. "Multistage Games with Communication," Econometrica, Econometric Society, vol. 54(2), pages 323-358, March.
    6. Bergemann, Dirk & Morris, Stephen, 2016. "Bayes correlated equilibrium and the comparison of information structures in games," Theoretical Economics, Econometric Society, vol. 11(2), May.
    7. Vasilis Syrgkanis & Elie Tamer & Juba Ziani, 2017. "Inference on Auctions with Weak Assumptions on Information," Papers 1710.03830, arXiv.org, revised Mar 2018.
    8. Bernhard von Stengel & Françoise Forges, 2008. "Extensive-Form Correlated Equilibrium: Definition and Computational Complexity," Mathematics of Operations Research, INFORMS, vol. 33(4), pages 1002-1022, November.
    9. Penta, Antonio, 2015. "Robust dynamic implementation," Journal of Economic Theory, Elsevier, vol. 160(C), pages 280-316.
    10. FORGES, Françoise, 1985. "Correlated equilibria in a class of repeated games with incomplete information," LIDAM Reprints CORE 663, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
    Full references (including those not matched with items on IDEAS)

    Citations

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    Cited by:

    1. Navin Kartik & Weijie Zhong, 2023. "Lemonade from Lemons: Information Design and Adverse Selection," Papers 2305.02994, arXiv.org.

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    More about this item

    Keywords

    Multi-stage games; information design; communication equilibrium; sequential communication equilibrium; information structures; Bayes correlated equilibrium; revelation principle;
    All these keywords.

    JEL classification:

    • C73 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Stochastic and Dynamic Games; Evolutionary Games
    • D82 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Asymmetric and Private Information; Mechanism Design

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