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The value of information in zero-sum games

    Olivier Gossner and Jean-Fran├žois Mertens
    CREST Working Paper, 2020

    Abtract: We study the description and value of information in zero-sum games. We define a series of informational relations between information schemes, and show that informational equivalence classes are captured by canonical information structures. Moreover, two information schemes induce the same value in every game if and only if they are informationally equivalent. We prove the existence of a revealing game in which unique optimal strategies are homeomorphic to canonical types.