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Reputation and Commitment in Two-Person Repeated Games without Discounting

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  • Cripps, Martin W
  • Thomas, Jonathan P

Abstract

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.

Suggested Citation

  • Cripps, Martin W & Thomas, Jonathan P, 1995. "Reputation and Commitment in Two-Person Repeated Games without Discounting," Econometrica, Econometric Society, vol. 63(6), pages 1401-1419, November.
  • Handle: RePEc:ecm:emetrp:v:63:y:1995:i:6:p:1401-19
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    References listed on IDEAS

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    1. Harrison, David Jr. & Rubinfeld, Daniel L., 1978. "Hedonic housing prices and the demand for clean air," Journal of Environmental Economics and Management, Elsevier, vol. 5(1), pages 81-102, March.
    2. Witte, Ann D & Sumka, Howard J & Erekson, Homer, 1979. "An Estimate of a Structural Hedonic Price Model of the Housing Market: An Application of Rosen's Theory of Implicit Markets," Econometrica, Econometric Society, vol. 47(5), pages 1151-1173, September.
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    Cited by:

    1. Martin W. Cripps & George J. Mailath & Larry Samuelson, 2004. "Imperfect Monitoring and Impermanent Reputations," Econometrica, Econometric Society, vol. 72(2), pages 407-432, March.
    2. Salomon, Antoine & Forges, Françoise, 2015. "Bayesian repeated games and reputation," Journal of Economic Theory, Elsevier, vol. 159(PA), pages 70-104.
    3. Jeffrey C. Ely & Juuso Välimäki, 2003. "Bad Reputation," The Quarterly Journal of Economics, Oxford University Press, vol. 118(3), pages 785-814.
    4. Atakan, Alp E. & Ekmekci, Mehmet, 2015. "Reputation in the long-run with imperfect monitoring," Journal of Economic Theory, Elsevier, vol. 157(C), pages 553-605.
    5. Cesi Berardino & Iozzi Alberto & Valentini Edilio, 2012. "Regulating Unverifiable Quality by Fixed-Price Contracts," The B.E. Journal of Economic Analysis & Policy, De Gruyter, vol. 12(1), pages 1-39, September.
    6. Jimmy Chan, 2000. "On the Non-Existence of Reputation Effects in Two-Person Infinitely-Repeated Games," Economics Working Paper Archive 441, The Johns Hopkins University,Department of Economics.
    7. Joel Slemrod, 2002. "Trust in Public Finance," NBER Working Papers 9187, National Bureau of Economic Research, Inc.
    8. Rainer Nitsche, 2000. "Incentives to Grow: Multimarket Firms and Predation," CIG Working Papers FS IV 00-19, Wissenschaftszentrum Berlin (WZB), Research Unit: Competition and Innovation (CIG).
    9. David Hugh-Jones & Ro’i Zultan, 2013. "Reputation and Cooperation in Defense," Journal of Conflict Resolution, Peace Science Society (International), vol. 57(2), pages 327-355, April.
    10. Burkhard Schipper, 2015. "Strategic teaching and learning in games," Working Papers 151, University of California, Davis, Department of Economics.
    11. Sorin, Sylvain, 1999. "Merging, Reputation, and Repeated Games with Incomplete Information," Games and Economic Behavior, Elsevier, vol. 29(1-2), pages 274-308, October.
    12. Cripps, Martin W. & Dekel, Eddie & Pesendorfer, Wolfgang, 2005. "Reputation with equal discounting in repeated games with strictly conflicting interests," Journal of Economic Theory, Elsevier, vol. 121(2), pages 259-272, April.
    13. Celentani, Marco & Pesendorfer, Wolfgang, 1996. "Reputation in Dynamic Games," Journal of Economic Theory, Elsevier, vol. 70(1), pages 109-132, July.
    14. Celentani, Marco, et al, 1996. "Maintaining a Reputation against a Long-Lived Opponent," Econometrica, Econometric Society, vol. 64(3), pages 691-704, May.
    15. Israeli, Eitan, 1999. "Sowing Doubt Optimally in Two-Person Repeated Games," Games and Economic Behavior, Elsevier, vol. 28(2), pages 203-216, August.
    16. Bolton, Gary E. & Ockenfels, Axel & Ebeling, Felix, 2011. "Information value and externalities in reputation building," International Journal of Industrial Organization, Elsevier, vol. 29(1), pages 23-33, January.
    17. Larry Samuelson, 2003. "Imperfect Monitoring and Impermanent Reputations," Theory workshop papers 505798000000000030, UCLA Department of Economics.

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