Article(electronic)January 1, 2013
Dependence and Uniqueness in Bayesian Games
In: The B.E. journal of theoretical economics, Volume 13, Issue 1, p. 1-25
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Abstract
Abstract: This paper studies uniqueness of equilibrium in symmetric Bayesian games. It shows that if signals are highly but not perfectly dependent, then players play their risk-dominant actions for all but a vanishing set of signal realizations. In contrast to the literature on global games, noise is not assumed to be additive. Dependence is modeled using the theory of copulas.
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