HEC Paris2014-08-11 10:17 PM

Asynchronicity and coordination in common and opposing interest games

Abstract

We study games endowed with a pre-play phase in which players prepare the actions that will be implemented at a predetermined deadline. In the preparation phase, each player stochastically receives opportunities to revise her actions, and the finally revised action is taken at the deadline. In two-player “common interest” games, where there exists a best action profile for all players, this best action profile is the only equilibrium outcome of the dynamic game. In “opposing interest” games, which are 2×2 games with Pareto-unranked strict Nash equilibria, the equilibrium outcome of the dynamic game is generically unique and corresponds to one of the stage-game strict Nash equilibria. Which equilibrium prevails depends on the payoff structure and on the relative frequency of the arrivals of revision opportunities for each of the players.

 

Jounal Information

Theoretical Economics, May 2014, vol. 9, n°2, pp.409-434

 

Full Article

http://onlinelibrary.wiley.com/doi/10.3982/TE1202/abstract

 

 

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HEC Paris

Founded in 1881 by the Paris Chamber of Commerce and Industry, HEC Paris specializes in education and research in management sciences. As a leading academic institution in Europe and worldwide, HEC Paris offers a complete and unique range of education programs for students and leaders.

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