In the literature of voluntarily repeated Prisoner's Dilemma type games with no information flow, the focus is on how long-term cooperation is established. In this paper we investigate how non-cooperative and cooperative players co-exist. In many incomplete information versions of a similar...

We consider the voluntarily separable repeated Prisoner's Dilemma model in which players randomly meet and form pairs to repeatedly play Prisoner's Dilemma only by mutual agreement. While the literature has dealt with the case of no information flow across partnerships, we consider the case in...

Theoretical literature on collusion has focused on a specific formulation of payoff fluctuations, namely by demand shocks, and showed that payoff fluctuations are bad for collusion. Introducing general payoff fluctuations, we show that (i) payoff fluctuations may strictly reduce the minimum...

This paper is inspired by real-world phenomena that firms lose customers based on imprecise information and take a long time to recover. If consumers are playing an ordinary repeated game with fixed partners, there is no clear reason why recovery slowly happens. However, if consumers are playing...

In the current mobile world, repeated relationships must be self-sustained by the members. We extend the framework of infinitely repeated games to incorporate the possibility that the game is strategically terminated by players. Specifically, we add a voting stage at the beginning of each period...