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In this paper we define a bargaining solution for cooperative games with incomplete information. Our solution concept is inspired in Myerson's [Mechanism design by an informed principal , Econometrica. (1983), 51, 1767-1797] theory on the informed principal problem and the random dictatorship procedure. It has the essential feature of generalizing the Maschler-Owen consistent value for non-transferable utility games. Our main results are individual rationality, incentive (second best) efficiency and existence of our cooperative solution. To obtain these results we restrict our analysis to cooperative games with stochastically independent types, private values and orthogonal coalitions.

In this paper we explore the relationship between several value-like solution concepts for cooperative games with incomplete information and utility transfers in the form of sidepayments. In our model, state-contingent contracts are required to be incentive compatible, and thus utility might not be not fully transferable (as it would be in the complete information case). When we restrict our attention to games with orthogonal coalitions (i.e., which do not involve strategic externalities), our first main result states that Myerson’s [Cooperative games with incomplete information. Int. J. Game Theory. (1984), 13, 69-96] generalization of the Shapley NTU value and Salamanca’s [A generalization of the Harsanyi NTU value to games with incomplete information. (2016), HAL 01579898] extension of the Harsanyi NTU value are interim utility equivalent. I f we allow for arbitrary informational and strategic externalities, our second main result establishes that the ex-ante evaluation of Myerson’s solution equals Kalai and Kalai’s [Cooperation in strategic games revisited. Q. J. Econ. (2013) 128, 917-966] cooperative-competitive value in two-player games with verifiable types.

In this paper we experimentally analyze the use of private information in a class of zero-sum repeated games with incomplete information on one side and perfect monitoring. We analyze whether the information disclosure by the informed players, and its use by the uninformed players, matches the theoretical predictions. We consider two games that differ according to the amount of information that the informed player should optimally disclose: in the first game, the informed player should entirely conceal his information. In contrast, in the second game the informed player should fully disclose his information. We find that the flow of information is higher than predicted in the first game and lower than predicted in the second game. However, the use of information is strictly higher in the second game than in the first one. Uninformed subjects tend not to use the revealed information in the first game, and seem to misinterpret the revealed information in the second game.

This dissertation consists of three self-contained papers in which we analyze cooperation and strategic information transmission in situations of asymmetric information where communication is subject to incentive constraints. Chapter 1 proposes a new solution concept for cooperative games with incomplete information. Chapter 2 compares this solution and other cooperative solutions in various classes of games (two-player games, games with transferable utility, games with verifiable information). Chapter 3 proposes a new approach to Bayesian persuasion by characterizing the ex-ante optimal communication equilibrium for the sender in the class of sender-receiver games.Myerson [Cooperative games with incomplete information. Int. J. Game Theory, 13, 1984, pp. 69- 96] has made significant progress towards a general concept of value for cooperative games with asymmetric information. His cooperative solution, called the M-value (short for Myerson value), generalizes the Shapley non-transferable utility (NTU) value to games with incomplete information. In Chapter 1, we show that Myerson’s theory exhibits some “difficulties” for recognizing certain informational externalities. To do this, we construct a three-player cooperative game in which the M-value does not capture some “negative” externality generated by the adverse selection. We then introduce a new solution concept, which we call the H-value. Our theory generalizes the Harsanyi NTU value to cooperative games with incomplete information. When we explicitly compute the H-value in our game, it turns out that it prescribes a more intuitive outcome taking into account the informational externalities not captured by the M-value.In Chapter 2 we explore the relationship between the following value like solution concepts for cooperative games with incomplete information: the M-value, the H-value and A. Kalai and E. Kalai’s [Cooperation in strategic games revisited. Q. J. Econ., 128, (2013), 917-966] cooperative-competitive (or “coco”) value. We consider a model in which utility transfers in the form of sidepayments are allowed. In our model, however, state-contingent contracts are required to be incentive compatible, thus utility might not be not fully transferable (as it would be in the complete information case). Restricting attention to games with orthogonal coalitions, which do not involve strategic externalities, we show that the M-value and the H-value coincide. Allowing for arbitrary informational and strategic externalities, we show that the ex-ante evaluation of the M-value equals the coco value in two-player games with verifiable information.In Chapter 3 we provide an analytical framework for studying Bayesian persuasion problems. We consider a model of strategic information transmission in which a sender chooses a communication system for signaling his information to an uninformed receiver, who then takes an action that affects the welfare of both individuals. Our main concern in this chapter is the question, what kinds of communication systems are the best ones for the informed party? By a use of a general form of the revelation principle, we can restrict attention to communication equilibria (mediated communication protocols). Using a geometric approach based on Duality Theory, we are able to characterize the optimal communication equilibrium from the concavification of a (modified) non-revealing payoff function as in Aumann and Maschler [Repeated Games with Incomplete Information. (1995). Cambridge, MIT Press.]., Dans cette dissertation, composée de trois articles, nous étudions la coopération et la transmission stratégique d’information dans des situations d’asymétrie d’information où la communication est soumise à des contraintes d’incitation. Le chapitre 1 propose un nouveau concept de solution pour les jeux coopératifs en information incomplète. Le chapitre 2 compare cette solution et d’autres solutions de coopération dans différentes classes de jeux (jeux à 2 joueurs, jeux à utilité transférable, jeux en information vérifiable). Le chapitre 3 propose une nouvelle approche pour la “persuasion Bayésienne” en caractérisant l’équilibre en communication optimale (ex-ante) pour l’émetteur dans les jeux émetteur-récepteur.Myerson [Cooperative games with incomplete information. Int. J. Game Theory, 13, 1984, pp. 69- 96] a fait des progrès considérables vers un concept de valeur s’appliquant aux jeux coopératifs en information asymétrique. Sa solution coopérative, désignée valeur M, étend la valeur de Shapley à utilité non-transférable (UNT) aux jeux en information incomplète. Dans le Chapitre 1, nous montrons que la théorie développée par Myerson présente des “difficultés” pour reconnaître certaines externalités d’information. Pour ce faire, nous construisons un jeu coopératif à trois joueurs dans lequel la valeur M ne capture pas une externalité négative engendrée par la sélection adverse. Nous introduisons ensuite un nouveau concept de solution, que nous appelons la valeur H. La théorie que nous proposons généralise la valeur d’Harsanyi UNT aux jeux coopératifs en information incomplète. Lorsque nous calculons explicitement la valeur H dans notre jeu, il s’avère qu’elle prescrit un résultat plus intuitif tenant compte des externalités non reconnues par la valeur M.Dans le Chapitre 2, nous examinons la relation entre les concepts de solution suivants : la valeur M, la valeur H et la valeur coco introduite par A. Kalai and E. Kalai’s [Cooperation in strategic games revisited. Q. J. Econ., 128, (2013), 917-966]. Nous considérons un modèle dans lequel des transferts d’utilité sous forme de paiements latéraux sont autorisés. Cependant, dans notre modèle, les contrats prennent en compte les possibilités de communication des individus et les contraintes d’incitation qui en résultent, de sorte que l’utilité pourrait ne pas être entièrement transférable (comme c’est le cas dans le modèle en information complète). En se concentrant sur les jeux à coalitions orthogonales, c’est à dire qui ne comportent pas d’externalités stratégiques, nous montrons que la valeur M et la valeur H coïncident. En permettant simultanément des externalités stratégiques et d’information, nous montrons que l’évaluation ex-ante (c.à.d. avant que tout joueur ne reçoive son information privée) de la valeur M coïncide avec la valeur coco dans les jeux à deux joueurs dont l’information est ex-post vérifiable.Dans le chapitre 3, nous proposons un cadre analytique pour l’étude des problèmes dits de “persuasion Bayésienne”. Nous étudions un modèle de transmission stratégique d’information dans lequel un agent informé, l’émetteur, choisit un système de communication pour relayer son information privée à un agent non informé, le récepteur, qui prend une décision affectant les utilités des deux individus. Notre principale préoccupation dans ce chapitre est de déterminer les meilleurs systèmes de communication pour l’émetteur. En utilisant une forme générale du principe de révélation, on ne perd rien à se limiter aux équilibres en communication (protocoles de communication assistés d’un médiateur). Grâce à une approche géométrique basée sur la Théorie de la Dualité, nous sommes en mesure de caractériser l’équilibre en communication optimale pour l’émetteur à partir de la concavification d’une fonction de paiements d’équilibre non révélateur (modifiée), comme dans la méthode d’Aumann et Maschler [Repeated Games with Incomplete Information. (1995). Cambridge, MIT Press.].

In this paper, we introduce a solution concept generalizing the Harsanyi non-transferable utility (NTU) value to cooperative games with incomplete information. The so-defined S-solution is characterized by virtual utility scales that extend the Harsanyi-Shapley fictitious weighted utility transfer procedure. We construct a three-player cooperative game in which Myerson’s [Cooperative games with incomplete information. Int. J. Game Theory, 13, 1984, pp. 69-96] generalization of the Shapley NTU value does not capture some “negative” externality generated by the adverse selection. However, when we explicitly compute the S-solution in this game, it turns out that it prescribes a more intuitive outcome which takes into account the above mentioned informational externality.

Some colombian growth cycle stylized facts are analyzed in this paper. An autoregressive Markov-Switching model is fitted to quarterly real GDP growth (1977Q1-2009Q4). Possible asymmetries in the cycle phases (deepness, steepness and sharpness), U or V shape of cycle, persistence and duration of cycle phases and the response of output to cyclical and idiosyncratic shocks are studied in this document., En este documento se estudian algunos hechos estilizados que caracterizan los ciclos de crecimiento colombianos. Para ello se ajusta un modelo de Markov-Switching autoregresivo a la serie del crecimiento trimestral (1977Q1-2009Q4) del PIB real. Se estudia la existencia de posibles asimetrías en las fases del ciclo (profunidad, inclinación y apuntamiento), la forma en U o V del ciclo, la duración y persistencia de sus fases, y finalmente la respuesta del producto ante choques idiosincráticos y cíclicos.