Incentive Compatibility in Large Games
We argue that large games are of analytical interest partly because they can be understood in terms of a unifying condition of incentive-compatibility, strategyproofness. In contrast to finite games, strategy-proofness applies not only to dominantstrategy equilibria, but also to a large class of Nash equilibria and to Bayesian Nash equilibria with independent types. Based on Kolmogorov''s zero-one law, it is also shown that Bayesian Nash equilibria coincide with a class of Nash equilibria in games of incomplete information when there is a countably infinite number of players and types are independent.
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| Length: | 18 pages |
| Date of creation: | 1995 |
| Handle: | RePEc:fth:caldec:95-16 |
| Contact details of provider: | Postal: University of California Davis - Department of Economics. One Shields Ave., California 95616-8578 Phone: (530) 752-0741 Fax: (530) 752-9382 Web page: http://www.econ.ucdavis.edu/ Email: More information through EDIRC
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References listed on IDEAS
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- Mas-Colell,Andreu, 1990.
"The Theory of General Economic Equilibrium,"
Cambridge Books,
Cambridge University Press, number 9780521388702, December.
- Mas-Colell,Andreu, 1985. "The Theory of General Economic Equilibrium," Cambridge Books, Cambridge University Press, number 9780521265140, November.
- Andreu Mas-Colell & Xavier Vives, 1993. "Implementation in Economies with a Continuum of Agents," Review of Economic Studies, Oxford University Press, vol. 60(3), pages 613-629.
- Vives, X. & Mas-Colell, A., 1989. "Implementation in economies with a Continuum of Agents," UFAE and IAE Working Papers 129.90, Unitat de Fonaments de l'Anàlisi Econòmica (UAB) and Institut d'Anàlisi Econòmica (CSIC).
- Judd, Kenneth L., 1985. "The law of large numbers with a continuum of IID random variables," Journal of Economic Theory, Elsevier, vol. 35(1), pages 19-25, February.
- Dubey, Pradeep & Mas-Colell, Andreau & Shubik, Martin, 1980. "Efficiency properties of strategies market games: An axiomatic approach," Journal of Economic Theory, Elsevier, vol. 22(2), pages 339-362, April.
- Armstrong, Thomas E. & Richter, Marcel K., 1984. "The core-walras equivalence," Journal of Economic Theory, Elsevier, vol. 33(1), pages 116-151, June.
- Al-Najjar, Nabil Ibraheem, 1995. "Decomposition and Characterization of Risk with a Continuum of Random Variables," Econometrica, Econometric Society, vol. 63(5), pages 1195-1224, September.
- Peter J. Hammond, 1979. "Straightforward Individual Incentive Compatibility in Large Economies," Review of Economic Studies, Oxford University Press, vol. 46(2), pages 263-282.
- Feldman, Mark & Gilles, Christian, 1985. "An expository note on individual risk without aggregate uncertainty," Journal of Economic Theory, Elsevier, vol. 35(1), pages 26-32, February.
- Gibbard, Allan, 1973. "Manipulation of Voting Schemes: A General Result," Econometrica, Econometric Society, vol. 41(4), pages 587-601, July.
- Champsaur, Paul & Laroque, Guy, 1981. "Fair allocations in large economies," Journal of Economic Theory, Elsevier, vol. 25(2), pages 269-282, October. Full references (including those not matched with items on IDEAS)
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