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We consider an infinitely repeated game in which a privately informed, long-lived manager raises funds from short-lived investors in order to finance a project. The manager can signal project quality to investors by making a (possibly costly) forward-looking disclosure about her project's...
Persistent link: https://www.econbiz.de/10011504350
We consider an infinitely repeated game in which a privately informed, long-lived manager raises funds from short-lived investors in order to finance a project. The manager can signal project quality to investors by making a (possibly costly) forward-looking disclosure about her project's...
Persistent link: https://www.econbiz.de/10011506852
I study a repeated game in which a patient player wants to win the trust of some myopic opponents but can strictly benefit from betraying them. His benefit from betrayal is strictly positive and is his persistent private information. I characterize every type of patient player's highest...
Persistent link: https://www.econbiz.de/10012587361
Community enforcement is an important device for sustaining efficiency in some repeated games of cooperation. We investigate cooperation when information about players' reputations spreads to their future partners through links in a social network that connects them. We find that information...
Persistent link: https://www.econbiz.de/10011773641
equilibria share some features with the ones of multi-sided reputation models. …
Persistent link: https://www.econbiz.de/10010256693
We study impersonal exchange, and ask how agents can behave honestly in anonymous transactions without contracts. We analyze repeated anonymous random matching games, where agents observe only their own transactions. Little is known about cooperation in this setting beyond the prisoner's...
Persistent link: https://www.econbiz.de/10012158850
, i.e., a two-sided reputation result would hold. In this note we show that this conjecture is indeed true for a wide set … of stage games for which the one-sided reputation result of Atakan and Ekmekci (2008) holds. -- Repeated Games … ; Reputation ; Equal Discount Factor ; Long-run Players ; War of Attrition …
Persistent link: https://www.econbiz.de/10008665867
equilibria share some features with the ones of multi-sided reputation models …
Persistent link: https://www.econbiz.de/10013055418
This paper examines experimentally the reputation building role of disclosure in an investment / trust game. It …
Persistent link: https://www.econbiz.de/10014200864
the equilibrium payoff of the long-lived player (demonstrating ex ante reputation effects) and to show that this lower … bound is asymptotically irrelevant under imperfect monitoring (demonstrating the impermanence of reputation effects). The … chapter continues by examining the (necessarily weaker) reputation results that can be established for the case of two long …
Persistent link: https://www.econbiz.de/10014025455