A note on perfect correlated equilibria

Heng Liu and Gagan Ghosh

Economics Letters, 2020, vol. 187, issue C

Abstract: This note studies perfect correlated equilibrium introduced by Dhillon and Mertens (1996). We show that the standard revelation principle for perfect correlated equilibrium distributions holds in two-by-two games. We then show that in N-player two-action games, although the revelation principle fails, a canonical correlated device for any perfect correlated equilibrium distribution involves two copies of action sets as the message space.

Keywords: Perfect equilibrium; Correlated equilibrium; Canonical correlation device (search for similar items in EconPapers)
Date: 2020
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Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:ecolet:v:187:y:2020:i:c:s0165176519304719

DOI: 10.1016/j.econlet.2019.108928

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