Bayes Correlated Equilibrium and the Comparison of Information Structures in Games
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The set of outcomes that can arise in Bayes Nash equilibria of an incomplete information game where players may have access to additional signals beyond the given information structure is equivalent to the set of a version of incomplete information correlated equilibrium which we dub Bayes correlated equilibrium . A game of incomplete information can be decomposed into a basic game, given by actions sets and payoﬀ functions, and an information structure. We identify a partial order on many player information structures (individual suﬀiciency) under which more information shrinks the set of Bayes correlated equilibria.
Bergemann, Dirk and Morris, Stephen, "Bayes Correlated Equilibrium and the Comparison of Information Structures in Games" (2013). Cowles Foundation Discussion Papers. 2296.