Incomplete Information Games with Transcendental Values

Incomplete Information Games with Transcendental Values

In a repeated zero-sum two-person game with incomplete information on both sides, the asymptotic value is defined as v = lim_oo v", where vn is the value of the game with n repetitions. It is shown here that v may be a transcendental number even for games in which all parameters defining the game are rational. This is in contrast to the situation in stochastic games where by the result of Bewle...

Values for cooperative games with incomplete information: An eloquent example

Myerson (1984b)’s extension of the λ-transfer value to cooperative games with incomplete information focus among other things on the strength of the incentive constraints at the solution for determining the power of coalitions. We construct an intuitive three-player game where the player whose only contribution is to partly release the two other players from the incentive constraints they face ...

Games with Incomplete Information

1. Game theory and classical economics. Game theory is a theory of strategic interaction. That is to say, it is a theory of rational behavior in social situations in which each player has to choose his moves on the basis of what he thinks the other players’ countermoves are likely to be. After preliminary work by a number of other distinguished mathematicians and economists, game theory as a sy...

Bayesian Games: Games with Incomplete Information

Glossary Bayesian game An interactive decision situation involving several decision makers (players) in which each player has beliefs about (i. e. assigns probability distribution to) the payoff relevant parameters and the beliefs of the other players. State of nature Payoff relevant data of the game such as payoff functions, value of a random variable, etc. It is convenient to think of a state...

Dynamic Games with Incomplete Information