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This paper introduces stochastic games with imperfect public signals. It provides a sufficient condition for the folk theorem when the game is irreducible, thus generalizing the results of Dutta (1995) [5] and Fudenberg, Levine, and Maskin (1994) [9]. To do this, the paper extends the concept of...
Persistent link: https://www.econbiz.de/10009249208
We study the perfect type-contingently public ex-post equilibrium (PTXE) of repeated games where players observe imperfect public signals of the actions played, and both the payoff functions and the map from actions to signal distributions depend on an unknown state. The PTXE payoffs when...
Persistent link: https://www.econbiz.de/10009318593
This paper studies repeated games with imperfect public monitoring where the players are uncertain both about the payoff functions and about the relationship between the distribution of signals and the actions played. We introduce the concept of perfect public ex post equilibrium (PPXE), and...
Persistent link: https://www.econbiz.de/10008679670
This paper studies infinite‐horizon stochastic games in which players observe actions and noisy public information about a hidden state each period. We find a general condition under which the feasible and individually rational payoff set is invariant to the initial prior about the state when...
Persistent link: https://www.econbiz.de/10012637389
We study repeated games in which players learn the unknown state of the world by observing a sequence of noisy private signals. We find that for generic signal distributions, the folk theorem obtains using ex post equilibria. In our equilibria, players commonly learn...
Persistent link: https://www.econbiz.de/10012637442
Persistent link: https://www.econbiz.de/10012813265
The present paper studies repeated games with private monitoring, and characterizes the set of belief-free equilibrium payoffs in the limit as the discount factor approaches one and the noise on private information vanishes. Contrary to the conjecture by Ely et al. [J.C. Ely, J. Hörner, W....
Persistent link: https://www.econbiz.de/10005153685
Persistent link: https://www.econbiz.de/10005153812
The main objective of this project is to design and implement Web-based collaborative environments for a global training based on a multiple perspective assessment for future and novice ALTs (Assistant Language Teachers) who will come to Japan from various parts of the world. The system was...
Persistent link: https://www.econbiz.de/10010545041
We investigate whether two players in a long-run relationship can maintain cooperation when the details of the underlying game are unknown. Specifically, we consider a new class of repeated games with private monitoring, where an unobservable state of the world influences the payoff functions...
Persistent link: https://www.econbiz.de/10010741503