This paper studies repeated games with pure strategies and stochastic discounting under perfect information. We consider infinite repetitions of any finite normal form game possessing at least one pure Nash action profile. The period interaction realizes a shock in each period, and the...

We build a workable game of common-property resource extraction under rational Bayesian learning about the renewal prospects of a resource. We uncover the impact of exogenously shifting the prior beliefs of each player on the response functions of others. What we find about the role of...

Delayed perfect monitoring in an in�nitely repeated discounted game is studied. A player perfectly observes any other player's action choice with a fixed, but finite delay. The observational delays between different pairs of players are heterogeneous and asymmetric. The Folk Theorem extends to...

We study an example of infinitely repeated games in which symmetric duopolistic firms produce experience goods. After consuming the products, short-run consumers only observe imperfect public information about product quality. We characterize perfect public equilibrium payoff set E(δ) of firms...

For any given set-valued solution concept, it is possible to consider iterative elimination of actions outside the solution set. This paper applies such a procedure to define the concept of iterated monotone potential maximizer (iterated MP-maximizer). It is shown that under some monotonicity...

This paper studies frequent monitoring in a simple infinitely repeated game with imperfect public information and discounting, where players observe the state of a continuous time Brownian process at moments in time of length Δ. It shows that efficient strongly symmetric perfect public...

This paper explores the role of memory in decision making in dynamic environments. We examine the inference problem faced by an agent with bounded memory who receives a sequence of signals from a hidden Markov model. We show that the optimal symmetric memory rule may be deterministic. This...

Does gender play a role in the context of team work? Our results based on a real-effort experiment suggest that performance depends on the composition of the team. We find that female and male performance differ most in mixed teams with revenue sharing between the team members, as men put in...

This paper studies repeated games where the time of repetitions of the stage game is not known or controlled by the players. Many economic situations of interest where players repeatedly interact share this feature, players do not know exactly when is the next time they will be called to play...

I study intermediation in networked markets using a stochastic model of multilateral bargaining in which traders compete on different routes through the network. I characterize stationary equilibrium payoffs as the fixed point of a set of intuitive value function equations and study efficiency...