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Non-Uniqueness of Equilibria in One-Shot Games of Strategic Communication

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  • Valsecchi, Irene

Abstract

The paper shows that Perfect Bayesian equilibria need not be unique in the strategic communication game of Crawford and Sobel (1982). First, different equilibrium partitions of the state space can have equal cardinality, despite fixed prior beliefs. Hence, there can be different equilibrium action profiles with the same size. Second, provided a Perfect Bayesian equilibrium exists, different message rules and beliefs can hold in other equilibria inducing the same action profile.

Suggested Citation

  • Valsecchi, Irene, 2009. "Non-Uniqueness of Equilibria in One-Shot Games of Strategic Communication," Sustainable Development Papers 50404, Fondazione Eni Enrico Mattei (FEEM).
    • Handle: RePEc:ags:feemdp:50404
    DOI: 10.22004/ag.econ.50404
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    File URL: https://ageconsearch.umn.edu/record/50404/files/19-09.pdf
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    Cited by:

    1. Irene Valsecchi, 2013. "Non-uniqueness of equilibrium action profiles with equal size in one-shot cheap-talk games," Theory and Decision, Springer, vol. 74(1), pages 31-53, January.

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    Keywords

    Research Methods/ Statistical Methods;

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