Correlated equilibrium
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In game theory, a correlated equilibrium is a solution concept that is more general than the well known Nash equilibrium. It was first discussed by mathematician Robert Aumann in 1974.[1][2] The idea is that each player chooses their action according to their private observation of the value of the same public signal. A strategy assigns an action to every possible observation a player can make. If no player would want to deviate from their strategy (assuming the others also don't deviate), the distribution from which the signals are drawn is called a correlated equilibrium.
Quick Facts Relationship, Superset of ...
Correlated equilibrium | |
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A solution concept in game theory | |
Relationship | |
Superset of | Nash equilibrium |
Significance | |
Proposed by | Robert Aumann |
Example | Chicken |
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