Cooperative Extensions of the Bayesian Game

Cooperative Extensions of the Bayesian Game

by Tatsuro Ichiishi, Akira Yamazaki
     
 

ISBN-10: 9812563598

ISBN-13: 9789812563590

Pub. Date: 06/28/2006

Publisher: World Scientific Publishing Company, Incorporated

This is the very first comprehensive monograph in a burgeoning, new research area — the theory of cooperative game with incomplete information with emphasis on the solution concept of Bayesian incentive compatible strong equilibrium that encompasses the concept of the Bayesian incentive compatible core. Built upon the concepts and techniques in the classical…  See more details below

Overview

This is the very first comprehensive monograph in a burgeoning, new research area — the theory of cooperative game with incomplete information with emphasis on the solution concept of Bayesian incentive compatible strong equilibrium that encompasses the concept of the Bayesian incentive compatible core. Built upon the concepts and techniques in the classical static cooperative game theory and in the non-cooperative Bayesian game theory, the theory constructs and analyzes in part the powerful n-person game-theoretical model characterized by coordinated strategy-choice with individualistic incentives, the influence of outsiders' strategy choice upon the feasibility and implications of coalitional attainability, and incomplete information. The book presents the basic results of this theory. It also presents the research results to date on the simple, but central economic model of Bayesian pure exchange economy, and also on an alternative approach, anonymous coalition formation.The theory presented here points to an important future research direction in economics. In particular, it has the potential to provide game-theoretical foundations of organizational analysis in which organizations (coalitions) as corporations institute a non-market resource allocation mechanism while using the market resource allocation mechanism at the same time.The book provides appraisals of the various concepts, setups and results established to date as well as many discussions on philosophical issues on different approaches in the area, thereby clarifying the applicability and limitations of the current theory. It also contains numerous examples illustrating various concepts and points of discussions.Cooperative Extensions of the Bayesian Game is an essential reference in strategic cooperative game theory, and serves as an informative textbook for PhD courses in advanced economic theory, mathematical economics, game theory, and industrial organization.

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Product Details

ISBN-13:
9789812563590
Publisher:
World Scientific Publishing Company, Incorporated
Publication date:
06/28/2006
Series:
Series on Mathematical Economics and Game Theory Series
Pages:
256
Product dimensions:
6.00(w) x 9.00(h) x 0.80(d)

Table of Contents

1Introduction3
2Cooperative extension of the Bayesian game7
3Measurability as feasibility of individual actions21
4Bayesian incentive compatibility as feasibility of execution of contracts25
5Descriptive solution concepts45
6Normative solution concepts57
7Comparisons of several core concepts65
8Existence91
9Approaches to information revelation109
10Existence167
11Large economy195
12Core convergence/equivalence theorems207
13Self-selection in anonymous environments219

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