Weakly Belief-Free Equilibria in Repeated Games with Private Monitoring
AbstractRepeated games with imperfect private monitoring have a wide range of applications, but a complete characterization of all equilibria in this class of games has yet to be obtained. The existing literature has identified a relatively tractable subset of equilibria. The present paper introduces the notion of weakly belief-free equilibria for repeated games with imperfect private monitoring. This is a tractable class which subsumes, as a special case, a major part of the existing literature (the belief-free equilibria), and it is shown that this class can outperform the equilibria identified by the previous work.
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Bibliographic InfoPaper provided by CIRJE, Faculty of Economics, University of Tokyo in its series CIRJE F-Series with number CIRJE-F-491.
Length: 44 pages
Date of creation: Apr 2007
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Other versions of this item:
- Michihiro Kandori, 2011. "Weakly Belief‐Free Equilibria in Repeated Games With Private Monitoring," Econometrica, Econometric Society, vol. 79(3), pages 877-892, 05.
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