Advanced Search
MyIDEAS: Login

One - Memory in Repeated Games

Contents:

Author Info

  • Barlo, Mehmet
  • Carmona, Guilherme

Abstract

We study the extent to which equilibrium payo®s of discounted repeated games can be obtained by 1 { memory strategies. First, we present robust examples of games in which there is a subgame perfect equilibrium payo® pro¯le that cannot be obtained by any 1 { memory subgame perfect equilibrium. Then, a complete characterization of 1 { memory simple strategies is provided, and it is employed to establish the following in games with more than two players each having connected action spaces: 1. all subgame perfect equilibrium payo®s can be approximately supported by an " { sub- game perfect equilibrium strategy of 1 { memory, 2. all strictly enforceable subgame perfect equilibrium payo®s can be approximately sup- ported by a 1 { memory subgame equilibrium, and 3. the subgame perfect Folk Theorem holds for 1 { memory strategies. While no further restrictions are needed for the third result to hold in 2 { player games, an additional restriction is needed for the ¯rst two: players must have common punishments.

Download Info

If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
File URL: http://fesrvsd.fe.unl.pt/WPFEUNL/WP2007/wp500.pdf
Download Restriction: no

Bibliographic Info

Paper provided by Universidade Nova de Lisboa, Faculdade de Economia in its series FEUNL Working Paper Series with number wp500.

as in new window
Length: 49 pages
Date of creation: 2007
Date of revision:
Handle: RePEc:unl:unlfep:wp500

Contact details of provider:
Postal: Campus de Campolide, 1099-032 Lisboa
Phone: (351) 21 3801638
Fax: (351) 21 3870933
Email:
Web page: http://www.fe.unl.pt
More information through EDIRC

Related research

Keywords:

This paper has been announced in the following NEP Reports:

References

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.:
as in new window
  1. Aumann, Robert J. & Sorin, Sylvain, 1989. "Cooperation and bounded recall," Games and Economic Behavior, Elsevier, vol. 1(1), pages 5-39, March.
  2. Neyman, Abraham & Okada, Daijiro, 1999. "Strategic Entropy and Complexity in Repeated Games," Games and Economic Behavior, Elsevier, vol. 29(1-2), pages 191-223, October.
  3. Lehrer, Ehud, 1988. "Repeated games with stationary bounded recall strategies," Journal of Economic Theory, Elsevier, vol. 46(1), pages 130-144, October.
  4. Barlo, Mehmet & Carmona, Guilherme, 2004. "Time Dependent Bounded Recall Strategies Are Enough to Play the Discounted Repeated Prisoners Dilemma," FEUNL Working Paper Series wp449, Universidade Nova de Lisboa, Faculdade de Economia.
  5. Kalai, Ehud & Stanford, William, 1988. "Finite Rationality and Interpersonal Complexity in Repeated Games," Econometrica, Econometric Society, vol. 56(2), pages 397-410, March.
  6. Mailath,G.J. & Postlewaite,A. & Samuelson,L., 2002. "Contemporaneous perfect Epsilon-equilibria," Working papers 5, Wisconsin Madison - Social Systems.
  7. Abreu, Dilip, 1988. "On the Theory of Infinitely Repeated Games with Discounting," Econometrica, Econometric Society, vol. 56(2), pages 383-96, March.
  8. Bhaskar, V. & Vega-Redondo, Fernando, 2002. "Asynchronous Choice and Markov Equilibria," Journal of Economic Theory, Elsevier, vol. 103(2), pages 334-350, April.
  9. 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.
  10. Abreu, Dilip & Dutta, Prajit K & Smith, Lones, 1994. "The Folk Theorem for Repeated Games: A NEU Condition," Econometrica, Econometric Society, vol. 62(4), pages 939-48, July.
Full references (including those not matched with items on IDEAS)

Citations

Lists

This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

Statistics

Access and download statistics

Corrections

When requesting a correction, please mention this item's handle: RePEc:unl:unlfep:wp500. See general information about how to correct material in RePEc.

For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Sean Story).

If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

If references are entirely missing, you can add them using this form.

If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

Please note that corrections may take a couple of weeks to filter through the various RePEc services.