The Econometric SocietyEdited by: Guido W. Imbens • Print ISSN: 0012-9682 • Online ISSN: 1468-0262
Econometrica: Nov, 1990, Volume 58, Issue 6
https://doi.org/0012-9682(199011)58:6<1341:UM>2.0.CO;2-Z
p. 1341-1364
Francoise Forges
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 which 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; the corresponding equilibrium strategies use only finite sets of messages. By a property of the correlated equilibrium, a similar result holds also with the Nash equilibrium solution concept. The scheme of plain conversation is universal because it does not depend on the specification of the game, nor on the solution to achieve and it is easily implemented in any institutional context. The main proposition of this paper states that it can be used without any loss of efficiency. Some results are also available for three and two person games.
March 5, 2024
The terms of the Editors of the Econometric Society's three journals end June 30, 2025. We are pleased to announce the incoming Editors and to thank the outgoing Editors for their excellent and continuing service.
Econometrica: Since 2019, Guido Imbens has served as the 14th Editor of Econometrica. On July 1, 2025, Marina Halac will become the Editor.
Quantitative Economics: Stéphane Bonhomme has been the Editor of Quantitative Economics since 2021. His successor will be Bernard Salanié.
Theoretical Economics: The Editor of Theoretical Economics since 2021 has been Simon Board. Taking over for him in July 2025 will be Federico Echenique.
Guido, Stéphane, and Simon have been outstanding Editors. We are grateful to them for the work they have done and will continue to do, and we look forward to further congratulating them next year. We believe Marina, Bernard, and Federico will be outstanding successors and we thank them in advance for their service.
Finally, we are grateful to Larry Samuelson for chairing all three search committees, and we thank the search committee members for their hard and fruitful work:
Econometrica: Christian Dustmann, Lars Hansen, Alessandro Lizzeri, George Mailath, Ariel Pakes, Helene Rey, and Elie Tamer.
QE: Kate Ho, Michael Keane, Felix Kubler, Whitney Newey, and Frank Schorfheide.
TE: Jeff Ely, Johannes Horner, Gilat Levy, Meg Meyer, and Ran Spiegler.
