Ekmekci, Mehmet; Gossner, Olivier; Wilson, Andrea - In: Journal of Economic Theory 147 (2012) 1, pp. 162-178
We study the impact of unobservable stochastic replacements for the long-run player in the classical reputation model with a long-run player and a series of short-run players. We provide explicit lower bounds on the Nash equilibrium payoffs of a long-run player, both ex-ante and following any...