Stability in large Bayesian games with heterogeneous players

Joyee Deb and Ehud Kalai

Journal of Economic Theory, 2015, vol. 157, issue C, 1041-1055

Abstract: Bayesian Nash equilibria that fail to be hindsight-(or, alternatively, ex-post) stable do not provide reliable predictions of outcomes of games in many applications. We characterize a family of large Bayesian games (with many players) in which all equilibria are asymptotically hindsight-stable, and discuss the consequences of this robustness property. In contrast to earlier literature, we establish hindsight stability in a class of games in which players are not anonymous and type spaces and action spaces can be infinite.

Keywords: Large games; Hindsight stability; Ex-post Nash equilibria; Bayesian Nash equilibria (search for similar items in EconPapers)
JEL-codes: C72 (search for similar items in EconPapers)
Date: 2015
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (9)

Downloads: (external link)
http://www.sciencedirect.com/science/article/pii/S0022053115000332
Full text for ScienceDirect subscribers only

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:eee:jetheo:v:157:y:2015:i:c:p:1041-1055

DOI: 10.1016/j.jet.2015.02.001

Access Statistics for this article

Journal of Economic Theory is currently edited by A. Lizzeri and K. Shell

More articles in Journal of Economic Theory from Elsevier
Bibliographic data for series maintained by Catherine Liu ().