We provide a simple sufficient condition for the existence of a recursive upper bound on (the Pareto frontier of) the sequential equilibrium payoff set at a fixed discount factor in two-player repeated games with imperfect private monitoring. The bounding set is the sequential equilibrium payoff set with perfect monitoring and a mediator. We show that this bounding set admits a simple recursive...

There are typically multiple equilibrium outcomes in the Crawford-Sobel (CS) model of strategic information transmission. This paper identifies a simple condition on equilibrium payoffs, called NITS, that selects among CS equilibria. Under a commonly used regularity condition, only the equilibrium with the maximal number of induced actions satisfies NITS. We discuss various justifications for N...

Babbling equilibrium An equilibrium in which the 19 sender’s strategy is independent of type and the re20 ceiver’s strategy is independent of signal. 21 Behavior strategy A strategy for an extensive-form game 22 that specifies the probability of taking each action at 23 each information set. 24 Behavioral type A player in a game who is constrained to 25 follow a given strategy. 26 Cheap-talk ga...

In this paper we develop the regional form of Darcy’s law when the condition of large-scale mechanical equilibrium is valid. This condition occurs for many steady or quasi-steady flows of practical importance, and analytical constraints are presented which define the domain of validity for large-scale mechanical equilibrium. Given a two-region model of a heterogeneous porous medium, the intrins...

A learning rule is uncoupled if a player does not condition his strategy on the opponent’s payo¤s. It is radically uncoupled if a player does not condition his strategy on the opponent’s actions or payo¤s. We demonstrate a family of simple, radically uncoupled learning rules whose period-by-period behavior comes arbitrarily close to Nash equilibrium behavior in any …nite two-person game. Keywor...

in this research, rice husk and activated carbon adsorbents were used for removal of lead ion from aqueous solution at ph= 6. in the batch tests experimental parameters were studied, including contact time and initial metal ions concentration.survey of the equilibrium time at different concentration showed that equilibrium time is reduced with decrease of initial concentration of solution from ...

This paper shows that asynchronicity of moves can lead to a unique prediction in coordination games, in an infinite-horizon setting, under certain conditions on off-equilibrium payoffs. In two-player games we derive necessary and sufficient conditions for play ultimately being absorbed in the Pareto dominant Nash equilibrium of the stage game, for every Markov perfect equilibrium. For players p...

The condition is derived for Friedman’s trigger strategy to sustain a collusive market equilibrium as a noncooperative Nash equilibrium given subjective beliefs as to the antitrust authority’s ability of succesfully disolving the illegal cartel.

Misrepresenting private information is often costly, for technological, legal, or psychological reasons. I develop a model of strategic information transmission based on Crawford and Sobel (1982) (CS), but with a convex cost of lying or misreporting. There are three main results. First, I prove that a sequence of monotone equilibria converges to a CS equilibrium as the cost of misreporting shri...

Introduction The goal of this work is to find a practical method of market condition analysis. Numerous researches are subjugated to this topical subject, although it would be premature to speak about their classical condition in this course. A methodological problem faced by the market analysis is well-known and comes to the global equilibrium problem. The market is a peculiar mathematical mod...