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Disappearing Private Reputations in Long-Run Relationships

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Author Info
Martin W. Cripps () (John M. Olin School of Business, Washington University, St. Louis, Department of Economics, University of Pennsylvania)
Larry Samuelson (Department of Economics, University of Wisconsin)

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Abstract

For games of public reputation with uncertainty over types and imperfect public monitoring, Cripps, Mailath, and Samuelson (2004) showed that an informed player facing short-lived uninformed opponents cannot maintain a permanent reputation for playing a strategy that is not part of an equilibrium of the game without uncertainty over types. This paper extends that result to games in which the uninformed player is long-lived and has private beliefs, so that the informed player’s reputation is private. We also show that the rate at which reputations disappear is uniform across equilibria and that reputations disappear in sufficiently long discounted finitely-repeated games.

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Publisher Info
Paper provided by Penn Institute for Economic Research, Department of Economics, University of Pennsylvania in its series PIER Working Paper Archive with number 04-031.

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Length: 40 pages
Date of creation: 01 Mar 2004
Date of revision: 28 Jul 2004
Handle: RePEc:pen:papers:04-031

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Related research
Keywords: Reputation; Imperfect Monitoring; Repeated Games; Commitment; Private Beliefs;

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Find related papers by JEL classification:
C70 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - General
C78 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Bargaining Theory; Matching Theory

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References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
  1. Martin Cripps & George J Mailath & Larry Samuelson, 2002. "Imperfect Monitoring and Impermanent Reputations," Levine's Bibliography 618897000000000060, UCLA Department of Economics. [Downloadable!]
    Other versions:
  2. Mailath, George J & Samuelson, Larry, 2001. "Who Wants a Good Reputation?," Review of Economic Studies, Blackwell Publishing, vol. 68(2), pages 415-41, April.
    Other versions:
  3. Fudenberg, Drew & Levine, David K, 1989. "Reputation and Equilibrium Selection in Games with a Patient Player," Econometrica, Econometric Society, vol. 57(4), pages 759-78, July. [Downloadable!] (restricted)
    Other versions:
  4. Kalai, Ehud & Lehrer, Ehud, 1993. "Subjective Games and Equilibria," Working Papers 875, California Institute of Technology, Division of the Humanities and Social Sciences. [Downloadable!]
  5. Christopher Phelan, 2001. "Public trust and government betrayal," Staff Report 283, Federal Reserve Bank of Minneapolis. [Downloadable!]
  6. Holmstrom, Bengt, 1999. "Managerial Incentive Problems: A Dynamic Perspective," Review of Economic Studies, Blackwell Publishing, vol. 66(1), pages 169-82, January. [Downloadable!] (restricted)
  7. Bengt Holmstrom, 1999. "Managerial Incentive Problems: A Dynamic Perspective," NBER Working Papers 6875, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
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Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. Christopher Phelan & Andrzej Skrzypacz, 2006. "Private monitoring with infinite histories," Staff Report 383, Federal Reserve Bank of Minneapolis. [Downloadable!]
    Other versions:
  2. Guillermo Ordonez, 2008. "Essays on Learning and Macroeconomics," Levine's Working Paper Archive 122247000000002250, David K. Levine. [Downloadable!]
  3. Martin W. Cripps & Jeffrey C. Ely & George J. Mailath & Larry Samuelson, 2006. "Common Learning," Levine's Bibliography 321307000000000355, UCLA Department of Economics. [Downloadable!]
    Other versions:
  4. Guillermo Ordonez, 2005. "Don't Ask Why Things Went Wrong: Nested Reputation and Scapegoating Inefficiency," Levine's Working Paper Archive 618897000000000988, David K. Levine. [Downloadable!]
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This page was last updated on 2009-11-11.

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