Universal mechanisms

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Abstract
A scheme of plain conversation is constructed, which is a universal mechanism for all noncooperative games with incomplete information with at least four players, in the following sense: every solution that can be achieved by means of an arbitrary communication mechanism is a correlated equilibrium payoff of the game extended by the scheme of plain conversation. By a property of the correlated equilibrium, a similar result holds also with the Nash equilibrium solution concept. The universal mechanism can be used without any loss of efficiency. Copyright 1990 by The Econometric Society. (This abstract was borrowed from another version of this item.)
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