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Folk Theorem in Repeated Games with Private Monitoring
[Collusion in Dynamic Bertrand Oligopoly with Correlated Private Signals and Communication]

Author

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  • Takuo Sugaya

Abstract

We show that the folk theorem holds generically for the repeated two-player game with private monitoring if the support of each player’s signal distribution is sufficiently large. Neither cheap talk communication nor public randomization is necessary.

Suggested Citation

  • Takuo Sugaya, 2022. "Folk Theorem in Repeated Games with Private Monitoring [Collusion in Dynamic Bertrand Oligopoly with Correlated Private Signals and Communication]," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 89(4), pages 2201-2256.
    • Handle: RePEc:oup:restud:v:89:y:2022:i:4:p:2201-2256.
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    File URL: http://hdl.handle.net/10.1093/restud/rdab079
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    References listed on IDEAS

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    1. Michihiro Kandori & Ichiro Obara, 2006. "Efficiency in Repeated Games Revisited: The Role of Private Strategies," Econometrica, Econometric Society, vol. 74(2), pages 499-519, March.
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    8. Drew Fudenberg & Eric Maskin, 2008. "The Folk Theorem In Repeated Games With Discounting Or With Incomplete Information," World Scientific Book Chapters, in: Drew Fudenberg & David K Levine (ed.), A Long-Run Collaboration On Long-Run Games, chapter 11, pages 209-230, World Scientific Publishing Co. Pte. Ltd..
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    2. Olivier Compte, 2023. "Q-learning with biased policy rules," Papers 2304.12647, arXiv.org, revised Oct 2023.

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