Truthful Equilibria in Dynamic Bayesian Games
Johannes Hörner,
Satoru Takahashi and
Nicolas Vieille ()
No 1933R, Cowles Foundation Discussion Papers from Cowles Foundation for Research in Economics, Yale University
Abstract:
This paper characterizes an equilibrium payoff subset for dynamic Bayesian games as discounting vanishes. Monitoring is imperfect, transitions may depend on actions, types may be correlated and values may be interdependent. The focus is on equilibria in which players report truthfully. The characterization generalizes that for repeated games, reducing the analysis to static Bayesian games with transfers. With independent private values, the restriction to truthful equilibria is without loss, except for the punishment level; if players withhold their information during punishment-like phases, a folk theorem obtains.
Keywords: Bayesian games; Repeated games; Folk theorem (search for similar items in EconPapers)
JEL-codes: C72 C73 (search for similar items in EconPapers)
Pages: 75 pages
Date: 2013-12, Revised 2015-01
New Economics Papers: this item is included in nep-cta, nep-gth, nep-hpe, nep-mic and nep-sea
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (13)
Published in Econometrica (September 2015), 83(5): 1795-1848
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Related works:
Journal Article: Truthful Equilibria in Dynamic Bayesian Games (2015) 
Working Paper: Truthful Equilibria in Dynamic Bayesian Games (2014) 
Working Paper: Truthful Equilibria in Dynamic Bayesian Games (2013) 
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