Bayes Correlated Equilibrium and the Comparison of Information Structures in Games

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Total Pages : 40 pages
Book Rating : 4.:/5 (13 download)

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Book Synopsis Bayes Correlated Equilibrium and the Comparison of Information Structures in Games by : Dirk Bergemann

Download or read book Bayes Correlated Equilibrium and the Comparison of Information Structures in Games written by Dirk Bergemann and published by . This book was released on 2015 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt: A game of incomplete information can be decomposed into a basic game and an information structure. The basic game defines the set of actions, the set of payoff states the payoff functions and the common prior over the payoff states. The information structure refers to the signals that the players receive in the game.We characterize the set of outcomes that can arise in Bayes Nash equilibrium if players observe the given information structure but may also observe additional signals. The characterization corresponds to the set of (a version of) incomplete information correlated equilibria which we dub Bayes correlated equilibria.We identify a partial order on many player information structures (individual sufficiency) under which more information shrinks the set of Bayes correlated equilibria. This order captures the role of information in imposing (incentive) constraints on behavior.

The Comparison of Information Structures in Games

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ISBN 13 :
Total Pages : 57 pages
Book Rating : 4.:/5 (13 download)

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Book Synopsis The Comparison of Information Structures in Games by : Dirk Bergemann

Download or read book The Comparison of Information Structures in Games written by Dirk Bergemann and published by . This book was released on 2013 with total page 57 pages. Available in PDF, EPUB and Kindle. Book excerpt: We define and characterize a notion of correlated equilibrium for games with incomplete information, which we call Bayes correlated equilibrium: The set of outcomes that can arise in Bayes Nash equilibria of an incomplete information game where players may have access to additional signals beyond the information structure is characterized and shown to be equivalent to the set of Bayes correlated equilibria.A game of incomplete information can be decomposed into a basic game, given by actions sets and payoff functions, and an information structure. We introduce a partial order on many player information structures -- which we call individual sufficiency -- under which more information shrinks the set of Bayes correlated equilibria. We discuss the relation of the solution concept to alternative definitions of correlated equilibrium in incomplete information games and of the partial order on information structures to others, including Blackwell's for the single player case.

Bayes Correlated Equilibrium and the Comparison of Information Structures

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Total Pages : 0 pages
Book Rating : 4.:/5 (137 download)

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Book Synopsis Bayes Correlated Equilibrium and the Comparison of Information Structures by : Dirk Bergemann

Download or read book Bayes Correlated Equilibrium and the Comparison of Information Structures written by Dirk Bergemann and published by . This book was released on 2013 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The set of outcomes that can arise in Bayes Nash equilibria of an incomplete information game where players may or may not have access to more private information is characterized and shown to be equivalent to the set of an incomplete information version of correlated equilibrium, which we call Bayes correlated equilibrium. We describe a partial order on many player information structures -- which we call individual sufficiency -- under which more information shrinks the set of Bayes correlated equilibria. We discuss the relation of the solution concept to alternative definitions of correlated equilibrium in incomplete information games and of the partial order on information structures to others, including Blackwell's for the single player case.

Correlated Equilibrium in Games with Incomplete Information

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Total Pages : pages
Book Rating : 4.:/5 (838 download)

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Book Synopsis Correlated Equilibrium in Games with Incomplete Information by : Dirk Bergemann

Download or read book Correlated Equilibrium in Games with Incomplete Information written by Dirk Bergemann and published by . This book was released on 2011 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:

Structural Econometric Modeling in Industrial Organization and Quantitative Marketing

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Publisher : Princeton University Press
ISBN 13 : 0691251002
Total Pages : 281 pages
Book Rating : 4.6/5 (912 download)

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Book Synopsis Structural Econometric Modeling in Industrial Organization and Quantitative Marketing by : Ali Hortaçsu

Download or read book Structural Econometric Modeling in Industrial Organization and Quantitative Marketing written by Ali Hortaçsu and published by Princeton University Press. This book was released on 2023-10-24 with total page 281 pages. Available in PDF, EPUB and Kindle. Book excerpt: A concise and rigorous introduction to widely used approaches in structural econometric modeling Structural econometric modeling specifies the structure of an economic model and estimates the model’s parameters from real-world data. Structural econometric modeling enables better economic theory–based predictions and policy counterfactuals. This book offers a primer on recent developments in these modeling techniques, which are used widely in empirical industrial organization, quantitative marketing, and related fields. It covers such topics as discrete choice modeling, demand modes, estimation of the firm entry models with strategic interactions, consumer search, and theory/empirics of auctions. The book makes highly technical material accessible to graduate students, describing key insights succinctly but without sacrificing rigor. • Concise overview of the most widely used structural econometric models • Rigorous and systematic treatment of the topics, emphasizing key insights • Coverage of demand estimation, estimation of static and dynamic game theoretic models, consumer search, and auctions • Focus on econometric models while providing concise reviews of relevant theoretical models

A Bayesian Theory of Games

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Publisher : Chartridge Books Oxford
ISBN 13 : 1909287768
Total Pages : 108 pages
Book Rating : 4.9/5 (92 download)

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Book Synopsis A Bayesian Theory of Games by : Dr Jimmy Teng

Download or read book A Bayesian Theory of Games written by Dr Jimmy Teng and published by Chartridge Books Oxford. This book was released on 2013-10-01 with total page 108 pages. Available in PDF, EPUB and Kindle. Book excerpt: Summary A Bayesian Theory of Games introduces a new game theoretic equilibrium concept: Bayesian equilibrium by iterative conjectures (BEIC). The new equilibrium concept achieves consistencies in results among different types of games that current games theory at times fails to. BEIC requires players to make predictions on the strategies of other players starting from first order uninformative predictive distribution functions (or conjectures) and keep updating with Bayesian statistical decision theoretic and game theoretic reasoning until a convergence of conjectures is achieved. In a BEIC, conjectures are consistent with the equilibrium or equilibriums they supported and so rationality is achieved for actions, strategies and beliefs and (statistical) decision rule. Given its ability to typically select only a unique equilibrium in games, the BEIC approach is capable of analyzing a larger set of games than current games theory, including games with noisy inaccurate observations and games with multiple sided incomplete information games. Key Features Provides a unified and consistent analysis of many categories of games. Its solution algorithm is iterative and has good computation properties. Can analyze more types of games than current existing games theory. The equilibrium concept and solution algorithm are based on Bayesian statistical decision theory. In the new equilibrium, rationality is achieved for action, strategy, belief (both prior and posterior) and decision rule. Beliefs are the results of optimization exercises of players. Uses first order uninformative conjectures and reaction functions to derive higher and higher orders of conjectures until a convergence of conjectures is achieved. Has great application value for it could solve many types of games and could model beliefs. The Author Dr Jimmy Teng currently teaches at the School of Economics of the University of Nottingham (Malaysia Campus). He is the author of many articles and two books. He received his economics PhD from the University of Toronto. He also earned a PhD in political Science and a MS in statistics from Duke University. He previously held research and teaching positions in Academia Sinica, National Taiwan University and Nanyang Technological University Readership Games theorists, decision theorists, economists, mathematicians, statisticians, operational researchers, social scientists, management researchers, public policy researchers, computer scientists Contents Preface Acknowledgments About the author Introduction Sequential games with incomplete information and noisy inaccurate observation; introduction; an inflationary game; Bayesian iterative conjectures algorithm as a Bayes decision rule; conclusions Sequential games with perfect and imperfect information; introduction; the Bayesian iterative conjecture algorithm, sub-game perfect equilibrium and perfect Bayesian equilibrium; solving sequential games of incomplete and perfect information; multiple-sided incomplete information sequential games with perfect information; conclusions Simultaneous games; introduction; complete information simultaneous games; BEIC and refinements of Nash equilibrium; simultaneous games with incomplete information; conclusions Conclusions References Index

The Elgar Companion to Information Economics

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Publisher : Edward Elgar Publishing
ISBN 13 : 1802203966
Total Pages : 579 pages
Book Rating : 4.8/5 (22 download)

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Book Synopsis The Elgar Companion to Information Economics by : Daphne R. Raban

Download or read book The Elgar Companion to Information Economics written by Daphne R. Raban and published by Edward Elgar Publishing. This book was released on 2024-03-14 with total page 579 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Elgar Companion to Information Economics dexterously navigates this interdisciplinary field of research which celebrates the crucial contribution of information to decision making, market dynamics, and economic well-being. Offering a wealth of conceptual analysis, this erudite Companion embarks on an intellectual journey exploring the fundamentals of information economics. This title contains one or more Open Access chapters.

Games And Dynamic Games

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Publisher : World Scientific Publishing Company
ISBN 13 : 981440134X
Total Pages : 488 pages
Book Rating : 4.8/5 (144 download)

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Book Synopsis Games And Dynamic Games by : Haurie Alain

Download or read book Games And Dynamic Games written by Haurie Alain and published by World Scientific Publishing Company. This book was released on 2012-03-23 with total page 488 pages. Available in PDF, EPUB and Kindle. Book excerpt: Dynamic games arise between players (individuals, firms, countries, animals, etc.) when the strategic interactions among them recur over time and decisions made during one period affect both current and future payoffs. Dynamic games provide conceptually rich paradigms and tools to deal with these situations.This volume provides a uniform approach to game theory and illustrates it with present-day applications to economics and management, including environmental, with the emphasis on dynamic games.At the end of each chapter a case study called game engineering (GE) is provided, to help readers understand how problems of high social priority, such as environmental negotiations, exploitation of common resources, can be modeled as games and how solutions can be engineered.

Web and Internet Economics

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Publisher : Springer Nature
ISBN 13 : 3030946762
Total Pages : 563 pages
Book Rating : 4.0/5 (39 download)

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Book Synopsis Web and Internet Economics by : Michal Feldman

Download or read book Web and Internet Economics written by Michal Feldman and published by Springer Nature. This book was released on 2022-01-20 with total page 563 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book constitutes the refereed proceedings of the 17th International Conference on Web and Internet Economics, WINE 2021, which was held online during December 14-17, 2021. The conference was originally planned to take place in Potsdam, Germany, but changed to a virtual event due to the COVID-19 pandemic. The 41 full papers presented in this volume were carefully reviewed and selected from 146 submissions. They were organized in topical sections as follows: mechanism design and pricing; matching, markets and equilibria; learning, fairness, privacy and behavioral models; social choice and cryptocurrencies.

Repeated Games with Incomplete Information

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Publisher : MIT Press
ISBN 13 : 9780262011471
Total Pages : 372 pages
Book Rating : 4.0/5 (114 download)

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Book Synopsis Repeated Games with Incomplete Information by : Robert J. Aumann

Download or read book Repeated Games with Incomplete Information written by Robert J. Aumann and published by MIT Press. This book was released on 1995 with total page 372 pages. Available in PDF, EPUB and Kindle. Book excerpt: The basic model studied throughout the book is one in which players ignorant about the game being played must learn what they can from the actions of the others.

Distributed Artificial Intelligence

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Publisher : Springer Nature
ISBN 13 : 3030946622
Total Pages : 256 pages
Book Rating : 4.0/5 (39 download)

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Book Synopsis Distributed Artificial Intelligence by : Jie Chen

Download or read book Distributed Artificial Intelligence written by Jie Chen and published by Springer Nature. This book was released on 2022-01-11 with total page 256 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book constitutes the refereed proceedings of the Third International Conference on Distributed Artificial Intelligence, DAI 2021, held in Shanghai, China, in December 2021. The 15 full papers presented in this book were carefully reviewed and selected from 31 submissions. DAI aims at bringing together international researchers and practitioners in related areas including general AI, multiagent systems, distributed learning, computational game theory, etc., to provide a single, high-profile, internationally renowned forum for research in the theory and practice of distributed AI.

Games and Economic Behavior

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ISBN 13 :
Total Pages : 904 pages
Book Rating : 4.:/5 (49 download)

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Book Synopsis Games and Economic Behavior by :

Download or read book Games and Economic Behavior written by and published by . This book was released on 2001 with total page 904 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Correlated Equilibrium in Games with Incomplete Information Revisited

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Publisher :
ISBN 13 :
Total Pages : 16 pages
Book Rating : 4.:/5 (255 download)

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Book Synopsis Correlated Equilibrium in Games with Incomplete Information Revisited by : Françoise Forges

Download or read book Correlated Equilibrium in Games with Incomplete Information Revisited written by Françoise Forges and published by . This book was released on 2006 with total page 16 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Web and Internet Economics

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Publisher : Springer Nature
ISBN 13 : 3030353893
Total Pages : 357 pages
Book Rating : 4.0/5 (33 download)

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Book Synopsis Web and Internet Economics by : Ioannis Caragiannis

Download or read book Web and Internet Economics written by Ioannis Caragiannis and published by Springer Nature. This book was released on 2019-11-21 with total page 357 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book constitutes the proceedings of the 14th International Conference on Web and Internet Economics, WINE 2019, held in New York City, USA, in December 2019. The 23 revised full papers presented were carefully reviewed and selected from 111 submissions. T The papers reflect the work of researchers in theoretical computer science, artificial intelligence, and microeconomics who have joined forces to tackle problems at the intersection of computation, game theory and economics.

Correlated Equilibrium with Generalized Information Structures

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ISBN 13 :
Total Pages : 28 pages
Book Rating : 4.:/5 (196 download)

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Book Synopsis Correlated Equilibrium with Generalized Information Structures by : Adam Brandenburger

Download or read book Correlated Equilibrium with Generalized Information Structures written by Adam Brandenburger and published by . This book was released on 1988 with total page 28 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Language Of Game Theory, The: Putting Epistemics Into The Mathematics Of Games

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Publisher : World Scientific
ISBN 13 : 9814513458
Total Pages : 298 pages
Book Rating : 4.8/5 (145 download)

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Book Synopsis Language Of Game Theory, The: Putting Epistemics Into The Mathematics Of Games by : Adam Brandenburger

Download or read book Language Of Game Theory, The: Putting Epistemics Into The Mathematics Of Games written by Adam Brandenburger and published by World Scientific. This book was released on 2014-03-12 with total page 298 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume contains eight papers written by Adam Brandenburger and his co-authors over a period of 25 years. These papers are part of a program to reconstruct game theory in order to make how players reason about a game a central feature of the theory. The program — now called epistemic game theory — extends the classical definition of a game model to include not only the game matrix or game tree, but also a description of how the players reason about one another (including their reasoning about other players' reasoning). With this richer mathematical framework, it becomes possible to determine the implications of how players reason for how a game is played. Epistemic game theory includes traditional equilibrium-based theory as a special case, but allows for a wide range of non-equilibrium behavior.

On the Structure of the Set of Correlated Equilibrium in Two-by-two Bimatrix Games

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ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (18 download)

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Book Synopsis On the Structure of the Set of Correlated Equilibrium in Two-by-two Bimatrix Games by : Ronald Peeters

Download or read book On the Structure of the Set of Correlated Equilibrium in Two-by-two Bimatrix Games written by Ronald Peeters and published by . This book was released on 1999 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: