We characterize the set of perfect Bayesian equilibria in symmetric separating strategies in the model of English auctions given by P. R. Milgrom and R. J. Weber (1982, Econometrica50, 1089鈥 1122). There is a continuum of such equilibria. The equilibrium derived by Milgrom and Weber is ...
Using a framework where certification process is imperfect, the paper derives conditions for Perfect Bayesian separating and pooling equilibrium to exist ... C Grover,S Bansal - 《Indian Growth & Development Review》 被引量: 0发表: 2019年 ...
Economic theory Factors that affect the existence and characteristics of separating Bayesian equilibrium UNIVERSITY OF MINNESOTA Terrance HurleyStephen Polasky PhamLe TranThe proportion of informed consumers and the distribution of consumer tastes have significant impacts to the existence of separating Bayesian...