Bayes correlated equilibrium
| Bayes correlated equilibrium | |
|---|---|
| Solution concept in game theory | |
| Relationship | |
| Superset of | Correlated equilibrium, Bayesian Nash equilibrium |
| Significance | |
| Proposed by | Dirk Bergemann, Stephen Morris |
In game theory, a Bayes correlated equilibrium is a solution concept for static games of incomplete information. It is both a generalization of the correlated equilibrium perfect information solution concept to bayesian games, and also a broader solution concept than the usual Bayesian Nash equilibrium thereof. Additionally, it can be seen as a generalized multi-player solution of the Bayesian persuasion information design problem.
Intuitively, a Bayes correlated equilibrium allows for players to correlate their actions in such a way that no player has an incentive to deviate for every possible type they may have. It was first proposed by Dirk Bergemann and Stephen Morris.