CRIPPS, MW and THOMAS, JP (1995) REPUTATION AND COMMITMENT IN 2-PERSON REPEATED GAMES WITHOUT DISCOUNTING. ECONOMETRICA , 63 (6) 1401 - 1419.
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Abstract
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.
| Type: | Article |
|---|---|
| Title: | REPUTATION AND COMMITMENT IN 2-PERSON REPEATED GAMES WITHOUT DISCOUNTING |
| Keywords: | REPUTATION, FOLK THEOREM, REPEATED GAMES, INCOMPLETE INFORMATION, EQUILIBRIUM |
| UCL classification: | UCL > School of Arts and Social Sciences > Faculty of Social and Historical Sciences > Economics |
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