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We ask whether communication can directly substitute for memory in dynastic repeated games in which short lived … by means of communication. When communication is costless and messages are sent simultaneously, communication mechanisms … or protocols exist that sustain the same set of equilibrium payoffs as in the standard repeated game. When communication …
Persistent link: https://www.econbiz.de/10014127568
For both two person teams and individuals unrestricted communication between opponents in a finitely repeated prisoner … dilemma game results in stage-one cooperation rates of between 95-100%. Content analysis of between opponent communication …
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We study a repeated principal-agent model with transferable utility, where the principal's evaluation of the agent's performance is subjective. Our focus is on equilibria which are robust to the addition of small privately observed shocks to the payoffs. Existing constructions of positive-effort...
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In a Bertrand-oligopoly experiment, firms choose whether or not to engage in cartel-like communication and, if so, they …
Persistent link: https://www.econbiz.de/10010401724
Players coordinate continuation play in repeated games with public monitoring. This paper asks the robustness of such equilibrium play with respect to private monitoring perturbations that are ex-ante close to the public-monitoring structure. We show that, in two-player games with full support...
Persistent link: https://www.econbiz.de/10013092729