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False Reputation in a Society of Players

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Author Info

  • Matthew O. Jackson

    (California Institute of Technology)

  • Ehud Kalai

    (Northwestern University)

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 maintained 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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Bibliographic Info

Paper provided by EconWPA in its series Game Theory and Information with number 9711004.

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Length: 21 pages
Date of creation: 25 Nov 1997
Date of revision:
Handle: RePEc:wpa:wuwpga:9711004

Note: Type of Document - postscript; prepared on pc-latex; to print on Postscript; pages: 21; figures: one. comments welcome
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Web page: http://128.118.178.162

Related research

Keywords: recurring game; learning; social learning; prisoners dilemma; Bayesian equilibrium; folk theorem;

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References

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  1. Ehud Kalai & Ehud Lehrer, 1990. "Rational Learning Leads to Nash Equilibrium," Discussion Papers 925, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
  2. Matthew Jackson & Ehud Kalai, 1995. "Social Learning in Recurring Games," Discussion Papers 1138, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
  3. David Kreps & Paul Milgrom & John Roberts & Bob Wilson, 2010. "Rational Cooperation in the Finitely Repeated Prisoners' Dilemma," Levine's Working Paper Archive 239, David K. Levine.
  4. Lehrer, Ehud & Smorodinsky, Rann, 1997. "Repeated Large Games with Incomplete Information," Games and Economic Behavior, Elsevier, vol. 18(1), pages 116-134, January.
  5. Ehud Kalai & Ehud Lehrer, 1991. "Subjective Equilibrium in Repeated Games," Discussion Papers 981, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
  6. Matthew Jackson & Ehud Kalai, 1995. "Recurring Bullies," Discussion Papers 1151, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
  7. 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.
  8. Dean Foster & Peyton Young, . "Learning with Hazy Beliefs," ELSE working papers 023, ESRC Centre on Economics Learning and Social Evolution.
  9. Drew Fudenberg & David K. Levine, 1993. "Self-Confirming Equilibrium," Levine's Working Paper Archive 2147, David K. Levine.
  10. Paul Milgrom & John Roberts, 1980. "Predation, Reputation, and Entry Deterrence," Discussion Papers 427, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
  11. Kreps, David M. & Wilson, Robert, 1982. "Reputation and imperfect information," Journal of Economic Theory, Elsevier, vol. 27(2), pages 253-279, August.
  12. John Nachbar, 2010. "Prediction, Optimization and Learning in Repeated Games," Levine's Working Paper Archive 576, David K. Levine.
  13. Jordan, J. S., 1991. "Bayesian learning in normal form games," Games and Economic Behavior, Elsevier, vol. 3(1), pages 60-81, February.
  14. Nyarko, Yaw, 1994. "Bayesian Learning Leads to Correlated Equilibria in Normal Form Games," Economic Theory, Springer, vol. 4(6), pages 821-41, October.
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