Social welfare in search games with asymmetric information
نویسندگان
چکیده
We consider games in which players search for a hidden prize, and they have asymmetric information about the prize's location. study social payoff equilibria of these games. present sufficient conditions existence an equilibrium that yields first-best (i.e., highest under any strategy profile), we characterize payoff. The results interesting implications innovation contests R&D races.
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ژورنال
عنوان ژورنال: Journal of Economic Theory
سال: 2022
ISSN: ['1095-7235', '0022-0531']
DOI: https://doi.org/10.1016/j.jet.2022.105462