We prove a folk theorem for stochastic games with private, almost-perfect monitoring and observable states when the limit set of feasible and individually rational payoffs is independent of the state. This asymptotic state independence holds, for example, for irreducible stochastic games. Our...

We analyze a toy class of two-player repeated games with two-sided incomplete information. In our model, two players are facing independent decision problems and each of them holds information that is potentially valuable to the other player. We study to what extent, and how, information can be...

Official reports and case studies reveal that China experienced different means of communication with the world powers since it joined the World Trade Organization in 2001. In the first five years, China had public communication with both the United States and the European Union under the...

I consider repeated games with private monitoring played on a network. Each player has a set of neighbors with whom he interacts: a player's payoff depends on his own and his neighbors' actions only. Monitoring is private and imperfect: each player observes his stage payoff but not the actions...

In a repeated game with imperfect public information, the set of equilibria depends on the way that the distribution of public signals varies with the players' actions. Recent research has focused on the case of "frequent monitoring," where the time interval between periods becomes small. Here...

I consider repeated games with local monitoring: each player observes his neighbors’ moves only. Hence, monitoring is private and imperfect. Communication is private: each player can send different (costless) messages to different players. The solution concept is perfect Bayesian equilibrium....

I consider repeated games on a network where players interact and communicate with their neighbors. At each stage, players choose actions and exchange private messages with their neighbors. The payoff of a player depends only on his own action and on the actions of his neighbors. At the end of...

We study finitely repeated games where players can decide whether to monitor the other playersʼ actions or not every period. Monitoring is assumed to be costless and private. We compare our model with the standard one where the players automatically monitor each other. Since monitoring other...

We introduce a “dynamic non-equivalent utilities” (DNEU) condition and the notion of dynamic player-specific punishments for a general repeated game with unequal discounting, both naturally generalizing the stationary counterparts in Abreu et al. (1994). We show that if the DNEU condition,...