Correlated Polyequilibrium

Speaker
Igal MilchTaich
Date
26/02/2019 - 13:00 - 11:30Add To Calendar 2019-02-26 11:30:00 2019-02-26 13:00:00 Correlated Polyequilibrium Polyequilibrium is a set-valued generalization of Nash equilibrium that differs in specifying strategies that players do not choose, such that for each excluded strategy of each player there is a non-excluded strategy that responds at least as well as the first one does to every profile of non-excluded strategies. This paper introduces a corresponding generalization of correlated equilibrium, correlated polyequilibrium, which is defined as a polyequilibrium in an “augmented” game where players choose their action only after receiving random private signals from some correlation device, or mechanism. The players’ choices yield a set of distributions of strategy profiles, which may not include any correlated equilibrium distribution. Correspondingly, some results that do not hold in any correlated equilibrium are obtained in a correlated polyequilibrium. Economics building (504), faculty lounge on the first floor אוניברסיטת בר-אילן - Department of Economics Economics.Dept@mail.biu.ac.il Asia/Jerusalem public
Place
Economics building (504), faculty lounge on the first floor
Affiliation
Bar Ilan University
Abstract

Polyequilibrium is a set-valued generalization of Nash equilibrium that differs in specifying strategies that players do not choose, such that for each excluded strategy of each player there is a non-excluded strategy that responds at least as well as the first one does to every profile of non-excluded strategies. This paper introduces a corresponding generalization of correlated equilibrium, correlated polyequilibrium, which is defined as a polyequilibrium in an “augmented” game where players choose their action only after receiving random private signals from some correlation device, or mechanism. The players’ choices yield a set of distributions of strategy profiles, which may not include any correlated equilibrium distribution. Correspondingly, some results that do not hold in any correlated equilibrium are obtained in a correlated polyequilibrium.

Last Updated Date : 04/12/2022