no code implementations • 20 Nov 2023 • Richard McLean, Ichiro Obara, Andrew Postlewaite
We characterize the limit equilibrium payoff set and identify the conditions for the folk theorem to hold with uniformly strict equilibrium.
no code implementations • 17 Aug 2023 • Daehyun Kim, Ichiro Obara
Our main result is the monotonicity of the limit perfect public equilibrium (PPE) payoff set with respect to this information order: we show that the limit PPE payoff sets with one information structure is larger than the limit PPE payoff sets with another information structure state by state if the latter information structure is a weighted garbling of the former.
