Theoretical Economics 18 (2023), 1475–1509

This paper generalizes the concept of Bayes correlated equilibrium (Bergemann and Morris, 2016) to multi-stage games. We apply our characterization results to a number of illustrative examples and applications.

Keywords: Multi-stage games, information design, communication equilibrium, sequential communication equilibrium, information structures, Bayes correlated equilibrium, revelation principle

JEL classification: C73, D82