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Incentive Compatibility in Large Games

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  • Nehring, K.

Abstract

We argue that large games are of analytical interest partly because they can be understood in terms of a unifying condition of incentive-compatibility, strategyproofness. In contrast to finite games, strategy-proofness applies not only to dominantstrategy equilibria, but also to a large class of Nash equilibria and to Bayesian Nash equilibria with independent types. Based on Kolmogorov''s zero-one law, it is also shown that Bayesian Nash equilibria coincide with a class of Nash equilibria in games of incomplete information when there is a countably infinite number of players and types are independent.
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Suggested Citation

  • Nehring, K., 1995. "Incentive Compatibility in Large Games," Department of Economics 95-16, California Davis - Department of Economics.
    • Handle: RePEc:fth:caldec:95-16
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    References listed on IDEAS

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    1. Mas-Colell,Andreu, 1990. "The Theory of General Economic Equilibrium," Cambridge Books, Cambridge University Press, number 9780521388702, September.
    2. Andreu Mas-Colell & Xavier Vives, 1993. "Implementation in Economies with a Continuum of Agents," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 60(3), pages 613-629.
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    7. Peter J. Hammond, 1979. "Straightforward Individual Incentive Compatibility in Large Economies," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 46(2), pages 263-282.
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    Cited by:

    1. Harris Dellas & Klaus Nehring, 2003. "Incentive-Compatible And Efficient Resource Allocation In Large Economies: An Exact And Local Approach," Working Papers 213, University of California, Davis, Department of Economics.

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    More about this item

    Keywords

    GAMES ; INFORMATION;

    JEL classification:

    • C70 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - General
    • C71 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Cooperative Games
    • C72 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Noncooperative Games
    • C79 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Other

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