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In some games, additional information hurts a player, e.g., in games with first-mover advantage, the second-mover is hurt by seeing the first-movers move. What properties of a game determine whether it has such negative value of information for a particular player? Can a game have negative value of information for all players? To answer such questions, we generalize the definition of marginal utility of a good to define the marginal utility of a parameter vector specifying a game. So rather than analyze the global structure of the relationship between a games parameter vector and player behavior, as in previous work, we focus on the local structure of that relationship. This allows us to prove that generically, every game can have negative marginal value of information, unless one imposes a priori constraints on allowed changes to the games parameter vector. We demonstrate these and related results numerically, and discuss their implications.
We adapt the method used by Jaynes to derive the equilibria of statistical physics to instead derive equilibria of bounded rational game theory. We analyze the dependence of these equilibria on the parameters of the underlying game, focusing on hyste
We analyze in this paper finite horizon hierarchical signaling games between (information provider) senders and (decision maker) receivers in a dynamic environment. The underlying information evolves in time while sender and receiver interact repeate
We define the notion of Bayes correlated Wardrop equilibrium for general nonatomic games with anonymous players and incomplete information. Bayes correlated Wardrop equilibria describe the set of equilibrium outcomes when a mediator, such as a traffi
Search has played a fundamental role in computer game research since the very beginning. And while online search has been commonly used in perfect information games such as Chess and Go, online search methods for imperfect information games have only
We consider a game-theoretic model of information retrieval with strategic authors. We examine two different utility schemes: authors who aim at maximizing exposure and authors who want to maximize active selection of their content (i.e. the number o