Transcription of 14.12 Game Theory Signaling
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14.12 Game Theory Signaling
Game TheoryMuhamet YildizRoad map1. Signaling games review1. Pooling equilibrium2. Separating equilibrium3. Mixed2. Job-market Signaling (short, time permitting)3. Review4. Evaluations2 Signaling GamesBeer Quiche1101beerbeerquichequichedueldon tdueldon tdon tdueldon tduel300021201031twts{.1}{.9}3 Signaling Game -- Definition Two Players: (S)ender, (R)eceiver1. Nature selects a type tifrom T = {t1,..,tI} with probability p(ti);2. Sender observes ti, and then chooses a message mjfrom M = {m1,..,mI};3. Receiver observes mj(but not ti), and then chooses an action akfrom A = {a1,..,aK};4. Payoffs are US(ti,mj,ak) and UR(ti,mj,ak).
•A separating equilibrium is an equilibrium in which all types of sender send different messages. •A partially separating/pooling equilibriumis an equilibrium in which some types of sender send the same message, while some others sends some other messages. A Pooling equilibrium 1 1 0 1 beer beer quiche quiche d u e l d o n ’ t d u e l d o ...
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