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A Note on Correlated Equilibrium

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  • Evangelista, Fe S
  • Raghavan, T E S

Abstract

The set of correlated equilibria for a bimatrix game is a closed, bounded, convex set containing the set of Nash equilibria. We show that every extreme point of a maximal Nash set is an extreme point of the above convex set. We also give an example to show that this result is not true in the payoff space, i.e., there are games where no Nash equilibrium payoff is an extreme point of the set of correlated equilibrium payoffs.

Suggested Citation

  • Evangelista, Fe S & Raghavan, T E S, 1996. "A Note on Correlated Equilibrium," International Journal of Game Theory, Springer;Game Theory Society, vol. 25(1), pages 35-41.
    • Handle: RePEc:spr:jogath:v:25:y:1996:i:1:p:35-41
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    Cited by:

    1. Soham R. Phade & Venkat Anantharam, 2019. "On the Geometry of Nash and Correlated Equilibria with Cumulative Prospect Theoretic Preferences," Decision Analysis, INFORMS, vol. 16(2), pages 142-156, June.
    2. Ianni, Antonella, 2001. "Learning correlated equilibria in population games," Mathematical Social Sciences, Elsevier, vol. 42(3), pages 271-294, November.
    3. Peeters, R.J.A.P. & Potters, J.A.M., 1999. "On the Structure of the Set of Correlated Equilibria in Two-by-Two Bimatrix Games," Discussion Paper 1999-45, Tilburg University, Center for Economic Research.
    4. Viossat, Yannick, 2006. "The Geometry of Nash Equilibria and Correlated Equilibria and a Generalization of Zero-Sum Games," SSE/EFI Working Paper Series in Economics and Finance 641, Stockholm School of Economics.
    5. Correia-da-Silva, João, 2020. "Self-rejecting mechanisms," Games and Economic Behavior, Elsevier, vol. 120(C), pages 434-457.
    6. Ramsey, David M. & Szajowski, Krzysztof, 2008. "Selection of a correlated equilibrium in Markov stopping games," European Journal of Operational Research, Elsevier, vol. 184(1), pages 185-206, January.
    7. Noah Stein & Asuman Ozdaglar & Pablo Parrilo, 2011. "Structure of extreme correlated equilibria: a zero-sum example and its implications," International Journal of Game Theory, Springer;Game Theory Society, vol. 40(4), pages 749-767, November.

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