Reputation and commitment in two-person repeated games without discounting.
Two-person repeated games with no discounting are considered where there is uncertainty about the type of the players. If there is a possibility that a player is an automaton committed to a particular pure or mixed stage-game action, then this provides a lower bound on the Nash equilibrium payoffs to a normal type of this player. The lower bound is the best available and is robust to the existence of other types. The results are extended to the case of two-sided uncertainty. This work extends Schmidt (1993) who analyzed the restricted class of conflicting interest games.
|Title:||Reputation and commitment in two-person repeated games without discounting|
|Open access status:||An open access version is available from UCL Discovery|
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|UCL classification:||UCL > School of Arts and Social Sciences > Faculty of Social and Historical Sciences > Economics|
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