Repeated Games and Reputations
Long-Run Relationships
Mailath, George J. Professor of Economics, University of Pennsylvania
Samuelson, Larry Professor of Economics, University of Wisconsin
Print publication date: 2006 (this edition)
Published to Oxford Scholarship Online: January 2007
Print ISBN-13: 978-0-19-530079-6




3 The Folk Theorem with Perfect Monitoring
doi:10.1093/acprof:oso/9780195300796.003.0003

George J. Mailath
Larry Samuelson
Abstract: This chapter presents and proves the folk theorem for games of perfect monitoring. The chapter first proves the folk theorem for two players with public correlation and pure-action individual rationality. This is then generalized to arbitrary numbers of players, via both a dimensionality assumption on feasible payoffs and the idea of non-equivalent utilities, then to games without public correlation and finally to mixed-action individually rational payoffs.

Keywords: folk theorem, individually rational payoffs, minmax payoffs, nonequivalent utilities, perfect monitoring, public correlation,

You have access to the abstract for this item.     You have access to the full text for this item.


 
Privacy Policy and Legal Notice © Oxford University Press, . All rights reserved.
Quick Search Form

Contents
 
scroll up fast
scroll up
 
scroll down
scroll down fast
Full Book Contents
1 Introduction
I Games with Perfect Monitoring
2 The Basic Structure of Repeated Games with Perfect Monitoring
3 The Folk Theorem with Perfect Monitoring
4 How Long Is Forever
5 Variations on the Game
6 Applications
II Games with (Imperfect) Public Monitoring
7 The Basic Structure of Repeated Games with Imperfect Public Monitoring
8 Bounding Equilibrium Perfect Public Equilibrium Payoffs
9 The Folk Theorem with Imperfect Public Monitoring
10 Private Strategies in Games with Imperfect Public Monitoring
11 Applications
III Games with Private Monitoring
12 Private Monitoring
13 Almost Public Monitoring Games
14 Belief-Free Equilibria in Private Monitoring Games
Part IV Reputations
15 Reputations with Short-Lived Players
16 Reputations with Long-Lived Players
17 Finitely Repeated Games
18 Modeling Reputations
Bibliography
Index
 
Return to top of list
SUBSCRIBER