We study a simple model of repeated partnerships with noisy outcomes. Two partners first choose a sharing rule, under which they start their repeated interaction. We characterize the sharing rule which supports the most efficient equilibrium, and show that it suffices to consider two particular...

We investigate optimal collusion in repeated multimarket contact under imperfect public monitoring, where two firms operate in m markets and in each market, each firmʼs decision and public signals are binary. We show that in an optimal pure strategy strongly symmetric perfect public...

This paper investigates whether multimarket contact is effective in increasing the value of collusion. We show that for any discount rate, the set of equilibrium payoffs (average per market) expands through multimarket contact in continuous-time games.

This paper analyzes repeated games in which it is possible for players to observe the other players' past actions without noise but it is costly. One's observation decision itself is not observable to the other players, and this private nature of monitoring activity makes it difficult to give...