Reputation with Observed Actions
AbstractA single long-run player plays a fixed-stage game (simultaneous or sequential move) against an infinite sequence of short-run opponents that play only once but can observe all past realized actions. Assuming that the probability distributions over types of long- and short-run players have full support, we show that the long-run player can always establish a reputation for the Stackelberg strategy and is therefore guaranteed almost his Stackelberg payoff in all Nash equilibria of the repeated game.
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Bibliographic InfoArticle provided by Springer in its journal Economic Theory.
Volume (Year): 7 (1996)
Issue (Month): 3 (April)
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Web page: http://link.springer.de/link/service/journals/00199/index.htm
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- C51 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Model Construction and Estimation
- E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles
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- Fudenberg, Drew & Levine, David & Pesendorfer, Wolfgang, 1998.
"When Are Nonanonymous Players Negligible?,"
Journal of Economic Theory,
Elsevier, vol. 79(1), pages 46-71, March.
- Drew Fudenberg & David K. Levine & Wolfgang Pesendorfer, 1996. "When are Non-Anonymous Players Negligible," Levine's Working Paper Archive 180, David K. Levine.
- Drew Fudenberg, 1995. "When Are Non-Anonymous Players Negligible?," Discussion Papers 1114, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
- Pesendorfer, Wolfgang & Levine, David & Fudenberg, Drew, 1998. "When Are Nonanonymous Players Negligible?," Scholarly Articles 3203775, Harvard University Department of Economics.
- Celentani, Marco, et al, 1996.
"Maintaining a Reputation against a Long-Lived Opponent,"
Econometric Society, vol. 64(3), pages 691-704, May.
- Marco Celentani, 1993. "Maintaining a Reputation Against A Long-Lived Opponent," Discussion Papers 1075R, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
- Sorin, Sylvain, 1999. "Merging, Reputation, and Repeated Games with Incomplete Information," Games and Economic Behavior, Elsevier, vol. 29(1-2), pages 274-308, October.
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