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Reputation in pertubed repeated games

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Author Info

  • Cripps,Martin
  • Scmidt,Klaus
  • Thomas,Jonathan

    (Cripps and Thomas:University of Warwick Schmidt:University of Bonn)

Abstract

The paper analyzes reputation effects in perturbed repeated games with discounting. If there is some positive prior probability that one of the players is committed to play the same (pure) action in every period, then this provides a lower bound for her equilibrium playoff in all Nash equilibria. This bound is tight and independent of what other types have positive probability. It is generally lower than Fudenberg and Levine's bound for games with a long-run player facing a sequence of short-run opponents. The bound cannot be improved by considering types playing finitely complicated history-dependent commitment strategies.

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Bibliographic Info

Paper provided by University of Bonn, Germany in its series Discussion Paper Serie A with number 410.

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Date of creation: Jun 1993
Date of revision:
Handle: RePEc:bon:bonsfa:410

Contact details of provider:
Postal: Bonn Graduate School of Economics, University of Bonn, Adenauerallee 24 - 26, 53113 Bonn, Germany
Fax: +49 228 73 6884
Web page: http://www.bgse.uni-bonn.de/index.php?id=517

Related research

Keywords: Reputation; Folk theorem; Repeated games; Incomplete information;

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Citations

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Cited by:
  1. Martin W. Cripps & Jonathan Thomas, 2004. "Some Asymptotic Results in Discounted Repeated Games of One-Sided Incomplete Information," ESE Discussion Papers 76, Edinburgh School of Economics, University of Edinburgh.
  2. Celentani, Marco & Fudenberg, Drew & Levine, David K. & Pesendorfer, Wolfgang, 1996. "Maintaining a reputation against a long-lived opponent," Open Access publications from Universidad Carlos III de Madrid info:hdl:10016/4815, Universidad Carlos III de Madrid.
  3. Cripps, Martin W. & Thomas, Jonathan P., 1997. "Reputation and Perfection in Repeated Common Interest Games," Games and Economic Behavior, Elsevier, vol. 18(2), pages 141-158, February.
  4. Bolton, Gary E. & Ockenfels, Axel & Ebeling, Felix, 2011. "Information value and externalities in reputation building," International Journal of Industrial Organization, Elsevier, vol. 29(1), pages 23-33, January.
  5. Francoise Forges & Antoine Salomon, 2013. "Bayesian Repeated Games," Working Papers hal-00803919, HAL.
  6. D. Abreu & D. Pearce, . "Bargaining, Reputation and Equilibrium Selection in Repeated Games," Princeton Economic Theory Papers 00f2, Economics Department, Princeton University.
  7. Dilip Abreu & David G. Pearce, 2006. "Bargaining, Reputation and Equilibrium Selection in Repeated Games with Contracts," Levine's Bibliography 321307000000000640, UCLA Department of Economics.
  8. Sorin, Sylvain, 1999. "Merging, Reputation, and Repeated Games with Incomplete Information," Games and Economic Behavior, Elsevier, vol. 29(1-2), pages 274-308, October.
  9. 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.
  10. Israeli, Eitan, 1999. "Sowing Doubt Optimally in Two-Person Repeated Games," Games and Economic Behavior, Elsevier, vol. 28(2), pages 203-216, August.
  11. Marco Celentani & Drew Fudenberg & David K. Levine & Wolfgang Pesendorfer, 1996. "Maintaining a Reputation against a Patient Opponent," Levine's Working Paper Archive 2015, David K. Levine.
  12. Gary E. Bolton & Axel Ockenfels, 2005. "The Influence of Information Externalities on the Value of Reputation Building - An Experiment," Working Paper Series in Economics 17, University of Cologne, Department of Economics.
  13. Dilip Abreu & David G. Pearce, 2006. "Reputational Wars of Attrition with Complex Bargaining Postures," Levine's Working Paper Archive 122247000000001218, David K. Levine.
  14. Sandroni, Alvaro, 2000. "Reciprocity and Cooperation in Repeated Coordination Games: The Principled-Player Approach," Games and Economic Behavior, Elsevier, vol. 32(2), pages 157-182, August.
  15. J. Watson & P. Battigalli, 2010. "On 'Reputation' Refinements with Heterogeneous Beliefs," Levine's Working Paper Archive 582, David K. Levine.
  16. Gary E Bolton & Axel Ockenfels, 2007. "Information Value and Externalities in Reputation Building - An Experimental Study," Working Paper Series in Economics 35, University of Cologne, Department of Economics, revised 01 Aug 2008.
  17. Hausken, Kjell, 2007. "Reputation, incomplete information, and differences in patience in repeated games with multiple equilibria," Economics Letters, Elsevier, vol. 97(2), pages 138-144, November.
  18. Jimmy Chan, 2000. "On the Non-Existence of Reputation Effects in Two-Person Infinitely-Repeated Games," Economics Working Paper Archive 441, The Johns Hopkins University,Department of Economics.

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