Comparison of information structures in stochastic games with imperfect public monitoring

Daehyun Kim ()
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Daehyun Kim: UCLA

International Journal of Game Theory, 2019, vol. 48, issue 1, No 11, 267-285

Abstract: Abstract This paper studies the impact of an improvement of information structure upon the perfect public equilibrium payoff set in discounted stochastic games with imperfect public monitoring. We first suggest three partial orders on information structures in stochastic games. Although each of them reduces to the notion of garbling in repeated games (Kandori in Rev Econ Stud 59:581–593, 1992), we find that an improvement of information in terms of our two garbling notions does not imply an expansion of the equilibrium payoff set for some games. We also show that more informativeness in terms of our third notion of garbling is sufficient for the expansion, thereby extending the well-known monotonicity result in Kandori (1992) to stochastic games.

Keywords: Stochastic game; Blackwell sufficiency; Information structure; Public monitoring; Perfect public equilibrium (search for similar items in EconPapers)
JEL-codes: C72 C73 (search for similar items in EconPapers)
Date: 2019
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Citations: View citations in EconPapers (1)

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DOI: 10.1007/s00182-018-0643-9

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