IDEAS home Printed from https://ideas.repec.org/a/eee/gamebe/v114y2019icp318-323.html
   My bibliography  Save this article

A note on “Renegotiation in repeated games” [Games Econ. Behav. 1 (1989) 327–360]

Author

Listed:
  • Günther, Michael
  • Kuzmics, Christoph
  • Salomon, Antoine

Abstract

In Renegotiation in Repeated Games (1989), J. Farrell and E. Maskin present, among other results, sufficient conditions for payoffs to be “weakly renegotiation-proof”. We show that a step in the corresponding proof is not correct by giving a counterexample. We then provide a correct proof with slightly more demanding sufficient conditions.

Suggested Citation

  • Günther, Michael & Kuzmics, Christoph & Salomon, Antoine, 2019. "A note on “Renegotiation in repeated games” [Games Econ. Behav. 1 (1989) 327–360]," Games and Economic Behavior, Elsevier, vol. 114(C), pages 318-323.
    • Handle: RePEc:eee:gamebe:v:114:y:2019:i:c:p:318-323
    DOI: 10.1016/j.geb.2019.01.002
    as

    Download full text from publisher

    File URL: http://www.sciencedirect.com/science/article/pii/S089982561930003X
    Download Restriction: Full text for ScienceDirect subscribers only
    File URL: https://libkey.io/10.1016/j.geb.2019.01.002?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to look for a different version below or search for a different version of it.

    Other versions of this item:

    References listed on IDEAS

    as
    1. Farrell, Joseph & Maskin, Eric, 1989. "Renegotiation in repeated games," Games and Economic Behavior, Elsevier, vol. 1(4), pages 327-360, December.
    2. Fudenberg, Drew & Maskin, Eric, 1991. "On the dispensability of public randomization in discounted repeated games," Journal of Economic Theory, Elsevier, vol. 53(2), pages 428-438, April.
    3. Evans, Robert & Maskin, Eric, 1989. "Efficient renegotiation--proof equilibria in repeated games," Games and Economic Behavior, Elsevier, vol. 1(4), pages 361-369, December.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Aramendia, Miguel & Wen, Quan, 2014. "Justifiable punishments in repeated games," Games and Economic Behavior, Elsevier, vol. 88(C), pages 16-28.
    2. Aramendia, Miguel & Wen, Quan, 2020. "Myopic perception in repeated games," Games and Economic Behavior, Elsevier, vol. 119(C), pages 1-14.
    3. Zhonghao SHUI, 2020. "Degree-K subgame perfect Nash equilibria and the folk theorem," Discussion papers e-20-001, Graduate School of Economics , Kyoto University.
    4. Conconi, Paola & Perroni, Carlo, 2009. "Do credible domestic institutions promote credible international agreements?," Journal of International Economics, Elsevier, vol. 79(1), pages 160-170, September.
    5. Matthew Embrey & Friederike Mengel & Ronald Peeters, 2019. "Strategy revision opportunities and collusion," Experimental Economics, Springer;Economic Science Association, vol. 22(4), pages 834-856, December.
    6. Ales, Laurence & Sleet, Christopher, 2014. "Revision proofness," Journal of Economic Theory, Elsevier, vol. 152(C), pages 324-355.
    7. Niko Jaakkola & Florian Wagener, 2020. "All symmetric equilibria in differential games with public goods," Tinbergen Institute Discussion Papers 20-020/II, Tinbergen Institute.
    8. repec:hal:spmain:info:hdl:2441/713kqq1pgu80lr8fn0lsuuh8lf is not listed on IDEAS
    9. Picard, Pierre M. & Worrall, Tim, 2020. "Currency areas and voluntary transfers," Journal of International Economics, Elsevier, vol. 127(C).
    10. Cigno, A., 2016. "Conflict and Cooperation Within the Family, and Between the State and the Family, in the Provision of Old-Age Security," Handbook of the Economics of Population Aging, in: Piggott, John & Woodland, Alan (ed.), Handbook of the Economics of Population Aging, edition 1, volume 1, chapter 0, pages 609-660, Elsevier.
    11. Staiger, Robert W., 1995. "International rules and institutions for trade policy," Handbook of International Economics, in: G. M. Grossman & K. Rogoff (ed.), Handbook of International Economics, edition 1, volume 3, chapter 29, pages 1495-1551, Elsevier.
    12. Wolfgang Eggert & Jun-Ichi Itaya, 2014. "Tax Rate Harmonization, Renegotiation, and Asymmetric Tax Competition for Profits with Repeated Interaction," Journal of Public Economic Theory, Association for Public Economic Theory, vol. 16(5), pages 796-823, October.
    13. Stähler, Frank, 1995. "Profits in pure Bertrand oligopolies," Kiel Working Papers 703, Kiel Institute for the World Economy (IfW Kiel).
    14. Günther, Michael & Hellmann, Tim, 2015. "Local and Global Pollution and International Environmental Agreements in a Network Approach," Center for Mathematical Economics Working Papers 545, Center for Mathematical Economics, Bielefeld University.
    15. Yuval Heller & Christoph Kuzmics, 2019. "Renegotiation and Coordination with Private Values," Graz Economics Papers 2019-10, University of Graz, Department of Economics.
    16. Perroni, Carlo & Scharf, Kimberley, 2003. "Viable Tax Constitutions," The Warwick Economics Research Paper Series (TWERPS) 683, University of Warwick, Department of Economics.
    17. Leif Helland & Jon Hovi, 2008. "Renegotiation Proofness and Climate Agreements: Some Experimental Evidence," Nordic Journal of Political Economy, Nordic Journal of Political Economy, vol. 34, pages 1-2.
    18. Karp, Larry & Sakamoto, Hiroaki, 2021. "Sober optimism and the formation of international environmental agreements," Journal of Economic Theory, Elsevier, vol. 197(C).
    19. Dou, Winston Wei & Ji, Yan & Wu, Wei, 2021. "Competition, profitability, and discount rates," Journal of Financial Economics, Elsevier, vol. 140(2), pages 582-620.
    20. Barthélemy, Jean & Mengus, Eric, 2018. "The signaling effect of raising inflation," Journal of Economic Theory, Elsevier, vol. 178(C), pages 488-516.
    21. Akira Okada, 2015. "Cooperation and Institution in Games," The Japanese Economic Review, Japanese Economic Association, vol. 66(1), pages 1-32, March.

    More about this item

    Keywords

    (Weak) renegotiation-proofness; Infinitely repeated games;

    JEL classification:

    • C72 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Noncooperative Games
    • C73 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Stochastic and Dynamic Games; Evolutionary Games

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eee:gamebe:v:114:y:2019:i:c:p:318-323. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Catherine Liu (email available below). General contact details of provider: http://www.elsevier.com/locate/inca/622836 .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.