Virtual Bayesian implementation
Article Abstract:
An analysis of social choice functions approximated by equilibrium outcomes reveals that virtual Bayesian implementation necessitates incentive compatibility. The study also reveals that incentive compatibility is also sufficient for Bayesian incentive consistency and an example shows iteratively undominated strategies where Bayesian implementable social choice functions that are not implementable.
Publication Name: Econometrica
Subject: Mathematics
ISSN: 0012-9682
Year: 1997
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Reputation and experimentation in repeated games with two long-run players
Article Abstract:
An analysis of the effects of reputation in the decision making process of two long-run players involved in a repeated game reveals that patience with regards the overall strategy that one or both players is directly related to the equilibrium payoff. Commitment to a particular strategy results in a greater degree of attaining an average equilibrium payoff similar to the Stackelberg payoff.
Publication Name: Econometrica
Subject: Mathematics
ISSN: 0012-9682
Year: 1997
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