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I study reputation effects under uncertain monitoring. I examine a repeated game between a long-run player and a series of short-run opponents. The long-run player can either be a strategic type or a commitment type that plays the same action in every period. The modeling innovation is that the...
Persistent link: https://www.econbiz.de/10012909525
In an experiment on the repeated prisoner’s dilemma where intended actions are implemented with noise, Fudenberg et al. (2012) observe that non-equilibrium strategies of the "tit-for-tat" family are largely adopted. Furthermore, they do not find support for risk dominance of TFT as a...
Persistent link: https://www.econbiz.de/10012805575
This paper studies the behavior of two firms after a new investment opportunity arises. Examples of such an investment are technology adoption or market entry. Firms either invest immediately or wait until market uncertainty is resolved. Two types of separating equilibrium are possible when...
Persistent link: https://www.econbiz.de/10012905574
Case studies of cartels and recent theory suggest that repeated communication is key for stable cooperation in …
Persistent link: https://www.econbiz.de/10012908872
This paper looks to see if departures from risk neutrality cause subjects to behave differently in randomly terminated supergames compared to infinitely discounted supergames. I show that if subjects have a strictly monotonic utility function, and that utility function is applied to their entire...
Persistent link: https://www.econbiz.de/10012901787
Case studies of cartels and recent theory suggest that communication promotes cooperation under imperfect monitoring …
Persistent link: https://www.econbiz.de/10012854170
Unternehmen müssen nicht immer Kollusionsabsichten verfolgen, wenn sie untereinander Informationen austauschen. Dieser Beitrag zeigt, daß bei Nachfrageunsicherheit auch strikt kompetitive Konkurrenten private Informationen bezüglich ihrer Nachfragebedingungen preisgeben. Dies läßt sich in...
Persistent link: https://www.econbiz.de/10010305090
Multiple long run players play one amongst multiple possible stage games in each period. They observe and recall past play and are aware of the current stage game being played, but are maximally uncertain about the future evolution of stage games. This setup is termed an uncertain repeated game....
Persistent link: https://www.econbiz.de/10014076853
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