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We analyze the problem of coordinating upon asymmetric equilibria in a symmetric game, such as the battle-of-the-sexes. In repeated interaction, asymmetric coordination is possible possible via symmetric repeated game strategies. This requires that players randomize initially and adopt a...
Persistent link: https://www.econbiz.de/10005407601
We examine a new class of games, which we call social games, where players not only choose strategies but also choose with whom they play. A group of players who are dissatisfied with the play of their current partners can join together and play a new equilibrium. This imposes new refinements on...
Persistent link: https://www.econbiz.de/10005062336
We present a synthesis of the various folk theorems for repeated games using a model that accommodates both finitely and infinitely repeated games with discounting. We derive a central result for this model and show that the various folk theorems follow as a consequence. Our result encompasses...
Persistent link: https://www.econbiz.de/10005407622