Tag: Bayesian equilibrium.

This paper describes a model of a soccer game between a goalkeeper and a kicker, in which each player attempts to score or avoid a goal. There are two alternative strategies for each player in this version of the penalty-kick game (connected to where they choose to kick or...

In terms of candidate quality characteristics, the electoral market has asymmetric information between candidates and voters, and asymmetric information creates an adverse selection issue in the electoral market. In an electoral market, poor-quality candidates will push good-quality candidates out of the electoral market if voters can not differentiate between...