Characterization of equilibrium existence and purification in general Bayesian games

Wei He, Xiang Sun, Yeneng Sun and Yishu Zeng

Papers from arXiv.org

Abstract: This paper studies Bayesian games with general action spaces, correlated types and interdependent payoffs. We introduce the condition of ``decomposable coarser payoff-relevant information'', and show that this condition is both sufficient and necessary for the existence of pure-strategy equilibria and purification from behavioral strategies. As a consequence of our purification method, a new existence result on pure-strategy equilibria is also obtained for discontinuous Bayesian games. Illustrative applications of our results to oligopolistic competitions and all-pay auctions are provided.

Date: 2021-06
New Economics Papers: this item is included in nep-gth and nep-mic
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