Are "Anti-Folk Theorems" in Repeated Games Nongeneric?
AbstractFolk Theorems in repeated games hold fixed the game payoffs, while the discount factor is varied freely. We show that these results may be sensitive to the order of limits in situations where players move asynchronously. Specifically, we show that when moves are asynchronous, then for a fixed discount factor close to one there is an open neighborhood of games which contains a pure coordination game such that every Perfect equilibrium of every game in the neighborhood approximates to an arbitrary degree the unique Pareto dominant payoff of the pure coordination game.
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Bibliographic InfoPaper provided by EconWPA in its series Game Theory and Information with number 9906001.
Date of creation: 03 Jun 1999
Date of revision: 03 Jun 1999
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repeated games; asynchronously repeated games; renewal games; coordination games;
Other versions of this item:
- Akihiko Matsui & Roger Lagunoff, 2001. "Are "Anti-Folk Theorems" in repeated games nongeneric?," Review of Economic Design, Springer, vol. 6(3), pages 397-412.
- Roger Lagunoff & Akihiko Matsui, 2000. "Are "Anti-Folk Theorems" in Repeated Games Nongeneric?," Econometric Society World Congress 2000 Contributed Papers 0894, Econometric Society.
- C72 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Noncooperative Games
- C73 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Stochastic and Dynamic Games; Evolutionary Games
This paper has been announced in the following NEP Reports:
- NEP-ALL-1999-06-23 (All new papers)
- NEP-GTH-1999-06-23 (Game Theory)
- NEP-IND-1999-06-23 (Industrial Organization)
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.:
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- Dutta, Prajit K., 2012. "Coordination need not be a problem," Games and Economic Behavior, Elsevier, vol. 76(2), pages 519-534.
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