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Belief-Free Rationalizability and Informational Robustness

Listed author(s):
  • Dirk Bergemann

    (Yale University)

  • Stephen Morris

    (Princeton University)

Fixing a game with uncertain payoffs, information design identifies the information structure and equilibrium that maximizes the payoff of an information designer. We show how this perspective unifies existing work, including that on communication in games (Myerson (1991)), Bayesian persuasion (Kamenica and Gentzkow (2011)) and some of our own recent work. Information design has a literal interpretation, under which there is a real information designer who can commit to the choice of the best information structure (from her perspective) for a set of participants in a game. We emphasize a metaphorical interpretation, under which the information design problem is used by the analyst to characterize play in the game under many different information structures.

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File URL: http://cowles.yale.edu/sites/default/files/files/pub/d20/d2066.pdf
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Paper provided by Princeton University, Department of Economics, Econometric Research Program. in its series Working Papers with number 086_2016.

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Date of creation: Dec 2016
Handle: RePEc:pri:metric:086_2016
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  2. Jing Chen & Silvio Micali & Rafael Pass, 2015. "Tight Revenue Bounds With Possibilistic Beliefs and Level‐k Rationality," Econometrica, Econometric Society, vol. 83(4), pages 1619-1639, 07.
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  14. Mas-Colell, Andreu & Whinston, Michael D. & Green, Jerry R., 1995. "Microeconomic Theory," OUP Catalogue, Oxford University Press, number 9780195102680.
  15. Forges, Francoise & Koessler, Frederic, 2005. "Communication equilibria with partially verifiable types," Journal of Mathematical Economics, Elsevier, vol. 41(7), pages 793-811, November.
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  17. Dekel, Eddie & Fudenberg, Drew & Levine, David K., 2004. "Learning to play Bayesian games," Games and Economic Behavior, Elsevier, vol. 46(2), pages 282-303, February.
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  20. Lehrer, Ehud & Rosenberg, Dinah & Shmaya, Eran, 2010. "Signaling and mediation in games with common interests," Games and Economic Behavior, Elsevier, vol. 68(2), pages 670-682, March.
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  24. Atsushi Kajii & Stephen Morris, 1997. "The Robustness of Equilibria to Incomplete Information," Econometrica, Econometric Society, vol. 65(6), pages 1283-1310, November.
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  28. Liu, Qingmin, 2015. "Correlation and common priors in games with incomplete information," Journal of Economic Theory, Elsevier, vol. 157(C), pages 49-75.
  29. repec:dau:papers:123456789/168 is not listed on IDEAS
  30. Prat, Andrea & de Martí, Joan & Calvó-Armengol, Antoni, 2015. "Communication and influence," Theoretical Economics, Econometric Society, vol. 10(2), May.
  31. Adam Brandenburger & Amanda Friedenberg, 2014. "Intrinsic Correlation in Games," World Scientific Book Chapters,in: The Language of Game Theory Putting Epistemics into the Mathematics of Games, chapter 4, pages 59-111 World Scientific Publishing Co. Pte. Ltd..
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  34. Itay Goldstein & Chong Huang, 2016. "Bayesian Persuasion in Coordination Games," American Economic Review, American Economic Association, vol. 106(5), pages 592-596, May.
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