Title

Bayes Correlated Equilibrium and the Comparison of Information Structures in Games

Document Type

Discussion Paper

Publication Date

9-1-2013

CFDP Number

1909R2

CFDP Revision Date

2014-10-01

CFDP Pages

40

Abstract

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.

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