Rationalization and identification of binary games with correlated types

doi:10.1016/j.jeconom.2017.08.007

CORC > 上海财经大学 > 上海财经大学

	Rationalization and identification of binary games with correlated types
	Liu, Nianqing 1,2; Vuong, Quang 3; Xu, Haiqing 4
刊名	JOURNAL OF ECONOMETRICS
	2017-12
卷号	201 期号:2 页码:249-268
关键词	Rationalization Identification Discrete game Social interactions Global games
ISSN号	0304-4076
DOI	10.1016/j.jeconom.2017.08.007
英文摘要	This paper studies the rationalization and identification of binary games where players have correlated private types. Allowing for type correlation is crucial in global games and in models with social interactions as it represents correlated private information and homophily, respectively. Our approach Is fully nonparametric in the joint distribution of types and the strategic effects in the payoffs. First, under monotone pure Bayesian Nash Equilibrium strategy, we characterize all the restrictions if any on the distribution of players' choices imposed by the game-theoretic model as well as restrictions associated with two assumptions frequently made in the empirical analysis of discrete games. Namely, we consider exogeneity of payoff shifters relative to private information, and mutual independence of private information given payoff shifters. Second, we study the nonparametric identification of the payoff functions and types distribution. We show that the model with exogenous payoff shifters is fully identified up to a single location-scale normalization under some exclusion restrictions and rank conditions. Third, we discuss partial identification under weaker conditions and multiple equilibria. Lastly, we briefly point out the implications of our results for model testing and estimation. (C) 2017 Elsevier B.V. All rights reserved.
WOS研究方向	Business & Economics ; Mathematics ; Mathematical Methods In Social Sciences
语种	英语
出版者	ELSEVIER SCIENCE SA
WOS记录号	WOS:000415773100007
内容类型	期刊论文
源URL	[http://10.2.47.112/handle/2XS4QKH4/831]
专题	上海财经大学
通讯作者	Vuong, Quang
作者单位	1.Shanghai Univ Finance & Econ, Sch Econ, Shanghai, Peoples R China; 2.Minist Educ, Key Lab Math Econ SUFE, Shanghai 200433, Peoples R China; 3.NYU, Dept Econ, 19 W 4th St,6FL, New York, NY 10012 USA; 4.Univ Texas Austin, Dept Econ, Austin, TX 78712 USA
推荐引用方式 GB/T 7714	Liu, Nianqing,Vuong, Quang,Xu, Haiqing. Rationalization and identification of binary games with correlated types[J]. JOURNAL OF ECONOMETRICS,2017,201(2):249-268.
APA	Liu, Nianqing,Vuong, Quang,&Xu, Haiqing.(2017).Rationalization and identification of binary games with correlated types.JOURNAL OF ECONOMETRICS,201(2),249-268.
MLA	Liu, Nianqing,et al."Rationalization and identification of binary games with correlated types".JOURNAL OF ECONOMETRICS 201.2(2017):249-268.