The strategic value of recall
AbstractThis work studies the value of two-person zero-sum repeated games in which at least one of the players is restricted to (mixtures of) bounded recall strategies. A (pure) k-recall strategy is a strategy that relies only on the last k periods of history. This work improves previous results (Lehrer, 1988; Neyman and Okada, 2009) on repeated games with bounded recall. We provide an explicit formula for the asymptotic value of the repeated game as a function of the one-stage game, the duration of the repeated game, and the recall of the agents.
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Bibliographic InfoArticle provided by Elsevier in its journal Games and Economic Behavior.
Volume (Year): 74 (2012)
Issue (Month): 1 ()
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Web page: http://www.elsevier.com/locate/inca/622836
Bounded recall; Bounded memory; Bounded rationality; Repeated games; Entropy; de Bruijn sequences;
Find related papers by 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
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Neyman, Abraham & Okada, Daijiro, 2009.
"Growth of strategy sets, entropy, and nonstationary bounded recall,"
Games and Economic Behavior,
Elsevier, vol. 66(1), pages 404-425, May.
- Abraham Neyman & Daijiro Okada, 2005. "Growth of Strategy Sets, Entropy, and Nonstationary Bounded Recall," Levine's Bibliography 122247000000000920, UCLA Department of Economics.
- Abraham Neyman & Daijiro Okada, 2005. "Growth of Strategy Sets, Entropy, and Nonstationary Bounded Recall," Discussion Paper Series dp411, The Center for the Study of Rationality, Hebrew University, Jerusalem.
- Abraham Neyman, 2008.
"Learning Effectiveness and Memory Size,"
Discussion Paper Series
dp476, The Center for the Study of Rationality, Hebrew University, Jerusalem.
- Scarsini, Marco & Renault, Jérôme & Tomala, Tristan, 2008.
"Playing off-line games with bounded rationality,"
Economics Papers from University Paris Dauphine
123456789/6127, Paris Dauphine University.
- Lehrer, Ehud, 1988. "Repeated games with stationary bounded recall strategies," Journal of Economic Theory, Elsevier, vol. 46(1), pages 130-144, October.
- Gilad Bavly & Abraham Neyman, 2003. "Online Concealed Correlation by Boundedly Rational Players," Discussion Paper Series dp336, The Center for the Study of Rationality, Hebrew University, Jerusalem.
- Ron Peretz, 2013. "Correlation through bounded recall strategies," International Journal of Game Theory, Springer, vol. 42(4), pages 867-890, November.
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