Reputation and Commitment in Two-Person Repeated Games without Discounting
Two-person repeated games with no discounting are considered where there is uncertainty about the type of the players. If there is a possibility that a player is an automaton committed to a particular pure or mixed stage-game action, then this provides a lower bound on the Nash equilibrium payoffs to a normal type of this player. The lower bound is the best available and is robust to the existence of other types. The results are extended to the case of two-sided uncertainty. This work extends Schmidt (1993) who analyzed the restricted class of conflicting interest games. Copyright 1995 by The Econometric Society.
Volume (Year): 63 (1995)
Issue (Month): 6 (November)
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