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Repeated Games and ReputationsLong-Run Relationships$
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George J. Mailath and Larry Samuelson

Print publication date: 2006

Print ISBN-13: 9780195300796

Published to Oxford Scholarship Online: January 2007

DOI: 10.1093/acprof:oso/9780195300796.001.0001

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PRINTED FROM OXFORD SCHOLARSHIP ONLINE (www.oxfordscholarship.com). (c) Copyright Oxford University Press, 2019. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in OSO for personal use. date: 20 August 2019

 The Basic Structure of Repeated Games with Imperfect Public Monitoring

 The Basic Structure of Repeated Games with Imperfect Public Monitoring

Chapter:
(p.225) 7 The Basic Structure of Repeated Games with Imperfect Public Monitoring
Source:
Repeated Games and Reputations
Author(s):

George J. Mailath (Contributor Webpage)

Larry Samuelson (Contributor Webpage)

Publisher:
Oxford University Press
DOI:10.1093/acprof:oso/9780195300796.003.0007

This chapter provides the basic technical tools for working with games of imperfect public monitoring, with games of perfect monitoring as a special case. It introduces the central notions of a public strategy and perfect public equilibrium (PPE), and shows that PPE has a recursive structure. Readers particularly interested in imperfect public monitoring can move straight from Chapter 2 to this chapter. This chapter develops and illustrates the ideas of decomposability, enforceability, and self-generation, the basic tools for working with games of incomplete information, as well as presenting the bang-bang theorem.

Keywords:   bang-bang theorem, decomposability, enforceability, imperfect monitoring, public monitoring, public strategy, perfect public equilibrium, PPE, recursion, self-generation

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