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False Reputation in a Society of Players

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Author Info
Matthew O. Jackson
Ehud Kalai

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Abstract

Exploiting small uncertainties on the part of opponents, players in long, finitely repeated games can maintain false reputations that lead to a large variety of equilibrium outcomes. Even cooperation in a finitely repeated prisoners' dilemma is obtainable. Can such false reputations be maintined in a society if the same repeated game is played recurringly by many different groups and each group observes the play paths of the earlier groups? We argue that such false reputations must die out over time. To prove this in environments that allow for rich (uncountable) sets of types of players, we combine ideas of purification with recent results from the rational learning literature.

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Paper provided by Northwestern University, Center for Mathematical Studies in Economics and Management Science in its series Discussion Papers with number 1184R.

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Date of creation: Mar 1997
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Handle: RePEc:nwu:cmsems:1184r

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  1. Kreps, David M. & Milgrom, Paul & Roberts, John & Wilson, Robert, 1982. "Rational cooperation in the finitely repeated prisoners' dilemma," Journal of Economic Theory, Elsevier, vol. 27(2), pages 245-252, August. [Downloadable!] (restricted)
  2. Jackson, Matthew O. & Kalai, Ehud, 1997. "Social Learning in Recurring Games," Games and Economic Behavior, Elsevier, vol. 21(1-2), pages 102-134, October. [Downloadable!] (restricted)
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  3. Dean Foster & Peyton Young, . "Learning with Hazy Beliefs," ELSE working papers 023, ESRC Centre on Economics Learning and Social Evolution. [Downloadable!]
  4. Jordan, J. S., 1991. "Bayesian learning in normal form games," Games and Economic Behavior, Elsevier, vol. 3(1), pages 60-81, February. [Downloadable!] (restricted)
  5. Fudenberg, D. & Levine, D.K., 1991. "Self-Confirming Equilibrium ," Working papers 581, Massachusetts Institute of Technology (MIT), Department of Economics.
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  6. Kreps, David M. & Wilson, Robert, 1982. "Reputation and imperfect information," Journal of Economic Theory, Elsevier, vol. 27(2), pages 253-279, August. [Downloadable!] (restricted)
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  7. Lehrer, Ehud & Smorodinsky, Rann, 1997. "Repeated Large Games with Incomplete Information," Games and Economic Behavior, Elsevier, vol. 18(1), pages 116-134, January. [Downloadable!] (restricted)
  8. Kalai, Ehud & Lehrer, Ehud, 1993. "Rational Learning Leads to Nash Equilibrium," Econometrica, Econometric Society, vol. 61(5), pages 1019-45, September. [Downloadable!] (restricted)
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  9. Milgrom, Paul & Roberts, John, 1982. "Predation, reputation, and entry deterrence," Journal of Economic Theory, Elsevier, vol. 27(2), pages 280-312, August. [Downloadable!] (restricted)
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  10. Kalai, Ehud & Lehrer, Ehud, 1993. "Subjective Equilibrium in Repeated Games," Econometrica, Econometric Society, vol. 61(5), pages 1231-40, September. [Downloadable!] (restricted)
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  11. Matthew Jackson & Ehud Kalai, 1995. "Recurring Bullies," Discussion Papers 1151, Northwestern University, Center for Mathematical Studies in Economics and Management Science. [Downloadable!]
  12. Fudenberg, Drew & Maskin, Eric, 1986. "The Folk Theorem in Repeated Games with Discounting or with Incomplete Information," Econometrica, Econometric Society, vol. 54(3), pages 533-54, May. [Downloadable!] (restricted)
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