Citation:
Solan, Eilon . “Extensive-Form Correlated Equilibria”. Discussion Papers 1998. Web.
Abstract:
The paper studies extensive-form correlated equilibria in stochastic games. An extensive-form correlated equilibrium is an equilibrium in an extended game, where a correlation device chooses at every stage, as a function of past signals (but independently of the actions of the players) a private signal for each player. We define the notion of individually rational payoffs for these games, and characterize the set of extensive-form correlated equilibrium payoffs using feasible and individually rational payoffs. Our result implies that extensive-form correlated equilibria and communication equilibria are payoff-equivalent in our model.