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Choosing Among Signalling Equilibria in Lobbying Games

Author

Listed:
  • Eric Rasmusen

Abstract

Randolph Sloof has written a comment on the lobbying-as-signalling model in Rasmusen (1993) in which he points out an equilibrium I missed and criticizes my emphasis on a particular separating equilibrium. In this response, I discuss how to interpret multiple equilibria in games and how to interpret mixed strategy equilibria in which two types of player with identical incentives must pick different mixing probabilities.

Suggested Citation

  • Eric Rasmusen, 1996. "Choosing Among Signalling Equilibria in Lobbying Games," Game Theory and Information 9607004, University Library of Munich, Germany.
    • Handle: RePEc:wpa:wuwpga:9607004
    Note: Can be found in ps via my website,
    as

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    References listed on IDEAS

    as
    1. Rasmusen, Eric, 1993. "Lobbying When the Decisionmaker Can Acquire Independent Information," Public Choice, Springer, vol. 77(4), pages 899-913, December.
    2. In-Koo Cho & David M. Kreps, 1987. "Signaling Games and Stable Equilibria," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 102(2), pages 179-221.
    3. Banks, Jeffrey S & Sobel, Joel, 1987. "Equilibrium Selection in Signaling Games," Econometrica, Econometric Society, vol. 55(3), pages 647-661, May.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    JEL classification:

    • C7 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory
    • D8 - Microeconomics - - Information, Knowledge, and Uncertainty

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