This paper considers an infinitely repeated three-player Bayesian game with lack of information on two sides, in which … generalization of Aumann, Maschler and Stearns (1995) two-player zero-sum one-sided incomplete information model. Under a correlated … prior, the informed player faces the problem of how to optimally disclose information among two uninformed players in order …

agreements.To derive our main results we apply the Folk Theorem to the river sharing problem using the equilibrium concepts of … subgame-perfect equilibrium and renegotiation-proof equilibrium. We show that, given the upstream-downstream asymmetry …