This paper studies reputation effects in games with a single long-run player whose choice of stage-game strategy is imperfectly observed by his opponents. The authors obtain lower and upper bounds on the long-run player's payoff in any Nash equilibrium of the game. If the long-run player's...

Imagine that one player, the "incumbent," competes with several "entrants." Each entrant competes only with the incumbent, but obs erves play in all contests. Previous work shows that as more and more entrants are added, the incumbent's reputation may dominate play of the game, if the entrants...