Are "Anti-Folk Theorems" in repeated games nongeneric?
AbstractFolk Theorems in repeated games hold fixed the game payoffs, while the discount factor is varied freely. We show that these results may be sensitive to the order of limits in situations where players move asynchronously. Specifically, we show that when moves are asynchronous, then for a fixed discount factor close to one there is an open neighborhood of games which contains a pure coordination game such that every Perfect equilibrium of every game in the neighborhood approximates to an arbitrary degree the unique Pareto dominant payoff of the pure coordination game.
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Bibliographic InfoArticle provided by Springer in its journal Review of Economic Design.
Volume (Year): 6 (2001)
Issue (Month): 3 ()
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Web page: http://link.springer.de/link/service/journals/10058/index.htm
Other versions of this item:
- Roger Lagunoff & Akihiko Matsui, 1999. "Are "Anti-Folk Theorems" in Repeated Games Nongeneric?," Game Theory and Information 9906001, EconWPA, revised 03 Jun 1999.
- Roger Lagunoff & Akihiko Matsui, 2000. "Are "Anti-Folk Theorems" in Repeated Games Nongeneric?," Econometric Society World Congress 2000 Contributed Papers 0894, Econometric Society.
- 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
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