A Rermark on Infinitely Repeated Extensive Games
AbstractLet Gamma be a game in extensive form and G be its reduced normal form game. Let Gamma ^infinity (delta) and G^infinity (delta) be the infinitely repeated game version of Gamma and G respectively, with common discount factor delta. This note points out that the set of SPE payoff vectors of Gamma^infinity (delta) might be different from that of G sub infinity (delta), even when delta is arbitrarily close to 1. This difference can be substantial when G fails to satisfy the "dimensionality" condition (a-la Fundenberg and Masking (1986) or Abreu, Dutta and Smith (1992)).
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Bibliographic InfoPaper provided by Tel Aviv - the Sackler Institute of Economic Studies in its series Papers with number 4-92.
Length: 7 pages
Date of creation: 1992
Date of revision:
Contact details of provider:
Postal: Tel-Aviv University, The Sackler Institute of Economic Studies, Ramat Aviv 69 978 Tel-Aviv, Israel
Web page: http://econ.tau.ac.il/
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game theory ; economic models;
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UCLA Economics Working Papers
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