Weakly Belief‐Free Equilibria in Repeated Games With Private Monitoring
AbstractRepeated games with imperfect private monitoring have a wide range of applications, but a complete characterization of all equilibria in this class of games has yet to be obtained. The existing literature has identified a relatively tractable subset of equilibria. The present paper introduces the notion of weakly belief-free equilibria for repeated games with imperfect private monitoring. This is a tractable class which subsumes, as a special case, a major part of the existing literature (the belief-free equilibria), and it is shown that this class can outperform the equilibria identified by the previous work.
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Bibliographic InfoArticle provided by Econometric Society in its journal Econometrica.
Volume (Year): 79 (2011)
Issue (Month): 3 (05)
Other versions of this item:
- Michihiro Kandori, 2007. "Weakly Belief-Free Equilibria in Repeated Games with Private Monitoring," CIRJE F-Series CIRJE-F-491, CIRJE, Faculty of Economics, University of Tokyo.
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- George J. Mailath & Stephen Morris, 1999.
"Repeated Games with Almost-Public Monitoring,"
CARESS Working Papres
almost-pub, University of Pennsylvania Center for Analytic Research and Economics in the Social Sciences, revised 01 Sep 2000.
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