IDEAS home Printed from https://ideas.repec.org/
MyIDEAS: Log in (now much improved!) to save this paper

Belief-free Equilibria in Games with Incomplete Information: Characterization and Existence

We characterize belief-free equilibria in infinitely repeated games with incomplete information with N \ge 2 players and arbitrary information structures. This characterization involves a new type of individual rational constraint linking the lowest equilibrium payoffs across players. The characterization is tight: we define a set of payoffs that contains all the belief-free equilibrium payoffs; conversely, any point in the interior of this set is a belief-free equilibrium payoff vector when players are sufficiently patient. Further, we provide necessary conditions and sufficient conditions on the information structure for this set to be non-empty, both for the case of known-own payoffs, and for arbitrary payoffs.

If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.

File URL: http://cowles.yale.edu/sites/default/files/files/pub/d17/d1739.pdf
Download Restriction: no

Paper provided by Cowles Foundation for Research in Economics, Yale University in its series Cowles Foundation Discussion Papers with number 1739.

as
in new window

Length: 70 pages
Date of creation: Oct 2009
Publication status: Published in Journal of Economic Theory (September 2011), 146(5): 1770-1795
Handle: RePEc:cwl:cwldpp:1739
Contact details of provider: Postal:
Yale University, Box 208281, New Haven, CT 06520-8281 USA

Phone: (203) 432-3702
Fax: (203) 432-6167
Web page: http://cowles.yale.edu/

More information through EDIRC

Order Information: Postal: Cowles Foundation, Yale University, Box 208281, New Haven, CT 06520-8281 USA

References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:

as in new window
  1. FORGES, Françoise, 1988. "Repeated games of incomplete information: non-zero-sum," CORE Discussion Papers 1988005, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
  2. Robert J. Aumann, 1995. "Repeated Games with Incomplete Information," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262011476, March.
  3. Mertens,Jean-François & Sorin,Sylvain & Zamir,Shmuel, 2015. "Repeated Games," Cambridge Books, Cambridge University Press, number 9781107030206, October.
    • Mertens,Jean-François & Sorin,Sylvain & Zamir,Shmuel, 2015. "Repeated Games," Cambridge Books, Cambridge University Press, number 9781107662636, October.
  4. Dirk Bergemann & Stephen Morris, 2007. "Belief Free Incomplete Information Games," Levine's Bibliography 122247000000001569, UCLA Department of Economics.
  5. Forges, Francoise & Minelli, Enrico, 1997. "A Property of Nash Equilibria in Repeated Games with Incomplete Information," Games and Economic Behavior, Elsevier, vol. 18(2), pages 159-175, February.
  6. Lovo, Stefano & Tomala, Tristan & Hörner, Johannes, 2009. "Belief-free equilibria in games with incomplete information: characterization and existence," Les Cahiers de Recherche 921, HEC Paris.
  7. Fudenberg, Drew & Maskin, Eric, 1991. "On the dispensability of public randomization in discounted repeated games," Journal of Economic Theory, Elsevier, vol. 53(2), pages 428-438, April.
  8. Jean-FranÚois Mertens, 1998. "The speed of convergence in repeated games with incomplete information on one side," International Journal of Game Theory, Springer;Game Theory Society, vol. 27(3), pages 343-357.
  9. Jeffrey C. Ely & Juuso Valimaki, 1999. "A Robust Folk Theorem for the Prisoner's Dilemma," Discussion Papers 1264, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
  10. Takahashi, Satoru & Chassang, Sylvain, 2011. "Robustness to incomplete information in repeated games," Theoretical Economics, Econometric Society, vol. 6(1), January.
  11. Jeffrey C. Ely & Johannes Hörner & Wojciech Olszewski, 2005. "Belief-Free Equilibria in Repeated Games," Econometrica, Econometric Society, vol. 73(2), pages 377-415, 03.
  12. Piccione, Michele, 2002. "The Repeated Prisoner's Dilemma with Imperfect Private Monitoring," Journal of Economic Theory, Elsevier, vol. 102(1), pages 70-83, January.
  13. Johannes Hörner & Stefano Lovo, 2009. "Belief-Free Equilibria in Games With Incomplete Information," Econometrica, Econometric Society, vol. 77(2), pages 453-487, 03.
  14. repec:dau:papers:123456789/6115 is not listed on IDEAS
  15. Fudenberg, Drew & Levine, David K, 1989. "Reputation and Equilibrium Selection in Games with a Patient Player," Econometrica, Econometric Society, vol. 57(4), pages 759-78, July.
  16. Stefano Lovo & Johannes Hörner & Tristan Tomala, 2009. "Belief-Free Equilibria in Games With Incomplete Information," Post-Print hal-00459955, HAL.
  17. Ehud Kalai, 2004. "Large Robust Games," Econometrica, Econometric Society, vol. 72(6), pages 1631-1665, November.
  18. Peski, Marcin, 2008. "Repeated games with incomplete information on one side," Theoretical Economics, Econometric Society, vol. 3(1), March.
  19. Jérôme Renault, 2001. "3-player repeated games with lack of information on one side," International Journal of Game Theory, Springer;Game Theory Society, vol. 30(2), pages 221-245.
  20. Thomas, J. P., 1995. "Subgame-perfect attainment of minimax punishments in discounted two-person games," Economics Letters, Elsevier, vol. 47(1), pages 1-4, January.
  21. Israeli, Eitan, 1999. "Sowing Doubt Optimally in Two-Person Repeated Games," Games and Economic Behavior, Elsevier, vol. 28(2), pages 203-216, August.
  22. Fudenberg, Drew & Maskin, Eric, 1986. "The Folk Theorem in Repeated Games with Discounting or with Incomplete Information," Econometrica, Econometric Society, vol. 54(3), pages 533-54, May.
  23. Shalev Jonathan, 1994. "Nonzero-Sum Two-Person Repeated Games with Incomplete Information and Known-Own Payoffs," Games and Economic Behavior, Elsevier, vol. 7(2), pages 246-259, September.
  24. Tristan Tomala & J. Hörner & S. Lovo, 2009. "Existence of belief-free equilibria in games with incomplete information and known-own payoffs," Post-Print hal-00495690, HAL.
  25. repec:dau:papers:123456789/9834 is not listed on IDEAS
  26. Renault, Jerome & Tomala, Tristan, 2004. "Learning the state of nature in repeated games with incomplete information and signals," Games and Economic Behavior, Elsevier, vol. 47(1), pages 124-156, April.
  27. Martin W. Cripps & Jonathan Thomas, 2001. "Some Asymptotic Results in Discounted Repeated Games of One-Sided Incomplete Information," ESE Discussion Papers 76, Edinburgh School of Economics, University of Edinburgh.
  28. repec:dau:papers:123456789/6538 is not listed on IDEAS
  29. Thomas E. Wiseman, 2011. "A Partial Folk Theorem for Games with Private Learning," 2011 Meeting Papers 181, Society for Economic Dynamics.
  30. Renault, Jerome & Tomala, Tristan, 2004. "Communication equilibrium payoffs in repeated games with imperfect monitoring," Games and Economic Behavior, Elsevier, vol. 49(2), pages 313-344, November.
  31. repec:dau:papers:123456789/6103 is not listed on IDEAS
  32. Drew Fudenberg & David M. Kreps, 1987. "Reputation in the Simultaneous Play of Multiple Opponents," Review of Economic Studies, Oxford University Press, vol. 54(4), pages 541-568.
Full references (including those not matched with items on IDEAS)

This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

When requesting a correction, please mention this item's handle: RePEc:cwl:cwldpp:1739. See general information about how to correct material in RePEc.

For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Matthew C. Regan)

If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

If references are entirely missing, you can add them using this form.

If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

Please note that corrections may take a couple of weeks to filter through the various RePEc services.

This information is provided to you by IDEAS at the Research Division of the Federal Reserve Bank of St. Louis using RePEc data.