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Learning Efficiency Of Multi-Agent Information Structures, Mira Frick, Ryota Iijima, Yuhta Ishii
Learning Efficiency Of Multi-Agent Information Structures, Mira Frick, Ryota Iijima, Yuhta Ishii
Cowles Foundation Discussion Papers
We study settings in which, prior to playing an incomplete information game, players observe many draws of private signals about the state from some information structure. Signals are i.i.d. across draws, but may display arbitrary correlation across players. For each information structure, we define a simple learning efficiency index, which only considers the statistical distance between the worst-informed player’s marginal signal distributions in different states. We show, first, that this index characterizes the speed of common learning (Cripps, Ely, Mailath, and Samuelson, 2008): In particular, the speed at which players achieve approximate common knowledge of the state coincides with the …
Learning Efficiency Of Multi-Agent Information Structures, Mira Frick, Ryota Iijima, Yuhta Ishii
Learning Efficiency Of Multi-Agent Information Structures, Mira Frick, Ryota Iijima, Yuhta Ishii
Cowles Foundation Discussion Papers
We study settings in which, prior to playing an incomplete information game, players observe many draws of private signals about the state from some information structure. Signals are i.i.d. across draws, but may display arbitrary correlation across players. For each information structure, we define a simple learning efficiency index, which only considers the statistical distance between the worst-informed player’s marginal signal distributions in different states. We show, first, that this index characterizes the speed of common learning (Cripps, Ely, Mailath, and Samuelson, 2008): In particular, the speed at which players achieve approximate common knowledge of the state coincides with the …