Multiplicity of equilibria and information structures in empirical games: challenges and prospects

Borkovsky, R. N., Ellickson, P. B., Gordon, B. R., Aguirregabiria, V., Gardete, P., Grieco, P., Gureckis, T. M., Ho, doi:., Mathevet, L., & Sweeting, A. (2015). Multiplicity of equilibria and information structures in empirical games: challenges and prospects. Marketing Letters, 26(2), 115–125.

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Abstract

Empirical models of strategic games are central to much analysis in marketing and economics. However, two challenges in applying these models to real-wold data are that such models often admit multiple equilibria and that they require strong informational assumptions. The first implies that the model does not make unique predictions about the data, and the second implies that the results may be drive by strong a-priori assumptions about the informational setup. This article summarizes recent work that seeks to address both issues and suggests some avenues for future research.

Keywords

Bibtex entry:

@article{borkovsky2015multiplicity,
	abstract = {Empirical models of strategic games are central to much analysis in marketing and economics. However, two challenges in applying these models to real-wold data are that such models often admit multiple equilibria and that they require strong informational assumptions. The first implies that the model does not make unique predictions about the data, and the second implies that the results may be drive by strong a-priori assumptions about the informational setup. This article summarizes recent work that seeks to address both issues and suggests some avenues for future research.},
	author = {Borkovsky, Ron N and Ellickson, Paul B and Gordon, Brett R and Aguirregabiria, Victor and Gardete, Pedro and Grieco, Paul and Gureckis, T.M. and Ho, Teck-Hua and Mathevet, Laurent and Sweeting, Andrew},
	journal = {Marketing Letters},
	number = {2},
	pages = {115--125},
	publisher = {Springer US},
	title = {Multiplicity of equilibria and information structures in empirical games: challenges and prospects},
	volume = {26},
	year = {2015}}

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