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Private monitoring games and decisions under uncertainty

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  • Takizawa, Shinichiro
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    Abstract

    We investigate the value of delaying the punishment in private monitoring repeated games with almost-public information when players use a grim trigger strategy. If the effects of uncertainty and irreversibility are considered, the equilibrium set would change.

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    File URL: http://www.sciencedirect.com/science/article/B6V84-5070DCD-2/2/48bb798c3a254597c97b62663d089bb7
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    Bibliographic Info

    Article provided by Elsevier in its journal Economics Letters.

    Volume (Year): 108 (2010)
    Issue (Month): 3 (September)
    Pages: 337-340

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    Handle: RePEc:eee:ecolet:v:108:y:2010:i:3:p:337-340

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    Web page: http://www.elsevier.com/locate/ecolet

    Related research

    Keywords: Private information Repeated games Decisions under uncertainty Irreversibility Trigger strategy;

    References

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    1. 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.
    2. Yuliy Sannikov, 2007. "Games with Imperfectly Observable Actions in Continuous Time," Econometrica, Econometric Society, vol. 75(5), pages 1285-1329, 09.
    3. Hitoshi Matsushima, 2003. "Repeated Games with Private Monitoring: Two Players," CIRJE F-Series CIRJE-F-242, CIRJE, Faculty of Economics, University of Tokyo.
    4. Drew Fudenberg & David K. Levine, 2002. "The Nash Threats Folk Theorem With Communication and Approximate Common Knowledge In Two Player Games," Harvard Institute of Economic Research Working Papers 1961, Harvard - Institute of Economic Research.
    5. Thijssen, J.J.J. & Huisman, K.J.M. & Kort, P.M., 2004. "The effect of information streams on capital budgeting decisions," Open Access publications from Tilburg University urn:nbn:nl:ui:12-140877, Tilburg University.
    6. Drew Fudenberg & David K. Levine & Eric Maskin, 1994. "The Folk Theorem with Imperfect Public Information," Levine's Working Paper Archive 2058, David K. Levine.
    7. Gonzalo Cortazar & Eduardo S. Schwartz & Marcelo Salinas, 1998. "Evaluating Environmental Investments: A Real Options Approach," Management Science, INFORMS, vol. 44(8), pages 1059-1070, August.
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