Perfect correlated equilibria in stopping games
We prove that every undiscounted multi-player stopping game in discrete time admits an approximate correlated equilibrium. Moreover, the equilibrium has five appealing properties: (1) “Trembling-hand” perfectness - players do not use non-credible threats; (2) Normal-form correlation - communication is required only before the game starts; (3) Uniformness - it is an approximate equilibrium in any long enough finite-horizon game and in any discounted game with high enough discount factor; (4) Universal correlation device -the device does not depend on the specific parameters of the game. (5) Canonical - the signal each player receives is equivalent to the strategy he plays in equilibrium.
|Date of creation:||10 Jun 2009|
|Contact details of provider:|| Postal: Ludwigstraße 33, D-80539 Munich, Germany|
Web page: https://mpra.ub.uni-muenchen.de
More information through EDIRC
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.:
- Myerson, R B, 1986.
"Acceptable and Predominant Correlated Equilibria,"
International Journal of Game Theory,
Springer;Game Theory Society, vol. 15(3), pages 133-154.
- Roger B. Myerson, 1984. "Acceptable and Predominant Correlated Equilibria," Discussion Papers 591, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
- Myerson, Roger B, 1986. "Multistage Games with Communication," Econometrica, Econometric Society, vol. 54(2), pages 323-358, March.
- Roger B. Myerson, 1984. "Multistage Games with Communication," Discussion Papers 590, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
- Barry Nalebuff & John G. Riley, 1984. "Asymmetric Equilibrium in the War of Attrition," UCLA Economics Working Papers 317, UCLA Department of Economics. Full references (including those not matched with items on IDEAS)
When requesting a correction, please mention this item's handle: RePEc:pra:mprapa:15646. 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: (Joachim Winter)
If references are entirely missing, you can add them using this form.