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Global games and equilibrium selection

Author

Listed:
  • Carlsson, H.
  • van Damme, E.E.C.

    (Tilburg University, School of Economics and Management)

Abstract

A global game is an incomplete information game where the actual payoff structure is determined by a random draw from a given class of games and where each player makes a noisy observation of the selected game. For 2 x 2 games, it is shown that, when the noise vanishes, iterated elimination of dominated strategies in the global game forces the players to conform to J. C. Harsanyi and R. Selten's risk dominance criterion. Copyright 1993 by The Econometric Society.
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Suggested Citation

  • Carlsson, H. & van Damme, E.E.C., 1993. "Global games and equilibrium selection," Other publications TiSEM 49a54f00-dcec-4fc1-9488-4, Tilburg University, School of Economics and Management.
  • Handle: RePEc:tiu:tiutis:49a54f00-dcec-4fc1-9488-4c15ffddf012
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    References listed on IDEAS

    as
    1. Van Huyck, John B & Battalio, Raymond C & Beil, Richard O, 1990. "Tacit Coordination Games, Strategic Uncertainty, and Coordination Failure," American Economic Review, American Economic Association, vol. 80(1), pages 234-248, March.
    2. Carlsson, H. & van Damme, E.E.C., 1989. "Global payoff uncertainty and risk dominance," Discussion Paper 1989-33, Tilburg University, Center for Economic Research.
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