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B Bayesian Games : Games with Incomplete Information Bayesian Games : Games with Incomplete Information
| Content Provider | Semantic Scholar |
|---|---|
| Author | Zamir, Shmuel |
| Copyright Year | 2009 |
| Abstract | Glossary Bayesian game An interactive decision situation involving several decision makers (players) in which each player has beliefs about (i. e. assigns probability distribution to) the payoff relevant parameters and the beliefs of the other players. State of nature Payoff relevant data of the game such as payoff functions, value of a random variable, etc. It is convenient to think of a state of nature as a full description of a 'game-form' (actions and payoff functions). Type Also known as state of mind, is a full description of player's beliefs (about the state of nature), beliefs about beliefs of the other players, beliefs about the beliefs about his beliefs, etc. ad infinitum. State of the world A specification of the state of nature (payoff relevant parameters) and the players' types (belief of all levels). That is, a state of the world is a state of nature and a list of the states of mind of all players. Common prior and consistent beliefs The beliefs of players in a game with incomplete information are said to be consistent if they are derived from the same Bayesian Games: Games with Incomplete Information B 427 probability distribution (the common prior) by conditioning on each player's private information. In other words, if the beliefs are consistent, the only source of differences in beliefs is difference in information. Bayesian equilibrium A Nash equilibrium of a Bayesian game: A list of behavior and beliefs such that each player is doing his best to maximize his payoff, according to his beliefs about the behavior of the other players. Correlated equilibrium A Nash equilibrium in an extension of the game in which there is a chance move, and each player has only partial information about its outcome. Definition of the Subject Bayesian games (also known as Games with Incomplete Information) are models of interactive decision situations in which the decision makers (players) have only partial information about the data of the game and about the other players. Clearly this is typically the situation we are facing and hence the importance of the subject: The basic underlying assumption of classical game theory according to which the data of the game is common knowledge (CK) among the players, is too strong and often implausible in real situations. The importance of Bayesian games is in providing the tools and methodology to relax this implausible assumption, to enable modeling of the overwhelming … |
| File Format | PDF HTM / HTML |
| Alternate Webpage(s) | http://www.ma.huji.ac.il/~zamir/documents/BayesianGames_ShmuelZamir.pdf |
| Language | English |
| Access Restriction | Open |
| Content Type | Text |
| Resource Type | Article |
