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On the Values for Bayesian Cooperative Games with Sidepayments

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  • Andrés Salamanca

    (SDU - University of Southern Denmark)

Abstract

In this paper we explore the relationship between several value-like solution concepts for cooperative games with incomplete information and utility transfers in the form of sidepayments. In our model, state-contingent contracts are required to be incentive compatible, and thus utility might not be not fully transferable (as it would be in the complete information case). When we restrict our attention to games with orthogonal coalitions (i.e., which do not involve strategic externalities), our first main result states that Myerson's [Cooperative games with incomplete information. Int. J. Game Theory. (1984), 13, 69-96] generalization of the Shapley NTU value and Salamanca's [A generalization of the Harsanyi NTU value to games with incomplete information. (2016), HAL 01579898] extension of the Harsanyi NTU value are interim utility equivalent. I f we allow for arbitrary informational and strategic externalities, our second main result establishes that the ex-ante evaluation of Myerson's solution equals Kalai and Kalai's [Cooperation in strategic games revisited. Q. J. Econ. (2013) 128, 917-966] cooperative-competitive value in two-player games with verifiable types.

Suggested Citation

  • Andrés Salamanca, 2017. "On the Values for Bayesian Cooperative Games with Sidepayments," Working Papers hal-01468867, HAL.
    • Handle: RePEc:hal:wpaper:hal-01468867
    Note: View the original document on HAL open archive server: https://hal.science/hal-01468867v3
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    JEL classification:

    • C71 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Cooperative Games
    • C78 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Bargaining Theory; Matching Theory
    • D82 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Asymmetric and Private Information; Mechanism Design

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