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An Anti-folk Theorem in Overlapping Generations Games with Limited Observability

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Author Info
Kiho Yoon (Sogang University)

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Abstract

We study the effect of limited observability on the possibility of cooperation in a simple overlapping generations model. If new entrants can observe only the recent history of the game, then cooperation cannot be sustained for certain classes of games. (Copyright: Elsevier)

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File URL: http://dx.doi.org/10.1006/redy.2000.0127
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Publisher Info
Article provided by Elsevier for the Society for Economic Dynamics in its journal Review of Economic Dynamics.

Volume (Year): 4 (2001)
Issue (Month): 3 (July)
Pages: 736-745
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Handle: RePEc:red:issued:v:4:y:2001:i:3:p:736-745

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Related research
Keywords: anti-folk theorem; limited observability; overlapping generations games;

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Find related papers by JEL classification:
C72 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Noncooperative Games
D82 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Asymmetric and Private Information

References listed on IDEAS
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  1. Smith, Lones, 1992. "Folk theorems in overlapping generations games," Games and Economic Behavior, Elsevier, vol. 4(3), pages 426-449, July. [Downloadable!] (restricted)
  2. Salant, David J., 1991. "A repeated game with finitely lived overlapping generations of players," Games and Economic Behavior, Elsevier, vol. 3(2), pages 244-259, May. [Downloadable!] (restricted)
  3. David M Kreps & Robert Wilson, 2003. "Sequential Equilibrium," Levine's Working Paper Archive 618897000000000813, UCLA Department of Economics. [Downloadable!]
    Other versions:
  4. Bhaskar, V, 1998. "Informational Constraints and the Overlapping Generations Model: Folk and Anti-Folk Theorems," Review of Economic Studies, Blackwell Publishing, vol. 65(1), pages 135-49, January. [Downloadable!] (restricted)
    Other versions:
  5. Kandori, Michihiro, 1992. "Repeated Games Played by Overlapping Generations of Players," Review of Economic Studies, Blackwell Publishing, vol. 59(1), pages 81-92, January. [Downloadable!] (restricted)
  6. Cremer, Jacques, 1986. "Cooperation in Ongoing Organizations," The Quarterly Journal of Economics, MIT Press, vol. 101(1), pages 33-49, February. [Downloadable!] (restricted)
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