Maintaining a Reputation against a Long-Lived Opponent
We analyze in a game between a patient player 1 and a non-myopic but less patient opponent, player 2. We assume that Player 1's type is private information and that players do not directly observe each other's action but rather see an imperfect signal of it. We show that in any Nash equilibrium of the game player 1 will get almost the largest payoff consistent with player 2 choosing a best response in a finite truncation of the game. If the discount factor of player 2 is sufficiently large, then player 1 will get approximately the maximum payoff consistent with player 2 getting at least his pure strategy minmax payoff.
(This abstract was borrowed from another version of this item.)
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.
As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.
Volume (Year): 64 (1996)
Issue (Month): 3 (May)
|Contact details of provider:|| Phone: 1 212 998 3820|
Fax: 1 212 995 4487
Web page: http://www.econometricsociety.org/
More information through EDIRC
|Order Information:|| Web: https://www.econometricsociety.org/publications/econometrica/access/ordering-back-issues Email: |
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.:
- Cripps, Martin W. & Schmidt, Klaus M. & Thomas, Jonathan P., 1996.
"Reputation in Perturbed Repeated Games,"
Journal of Economic Theory,
Elsevier, vol. 69(2), pages 387-410, May.
- Cripps,Martin & Scmidt,Klaus & Thomas,Jonathan, 1993. "Reputation in pertubed repeated games," Discussion Paper Serie A 410, University of Bonn, Germany.
- Cripps, Martin W. & Schmidt, Klaus M. & Thomas, Jonathan P., 1996. "Reputation in perturbed repeated games," Munich Reprints in Economics 20052, University of Munich, Department of Economics.
- Fudenberg, Drew & Tirole, Jean, 1991. "Perfect Bayesian equilibrium and sequential equilibrium," Journal of Economic Theory, Elsevier, vol. 53(2), pages 236-260, April.
- Marco Celentani & Wolfgang Pesendorfer, 1992.
"Reputation in Dynamic Games,"
1009, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
- Schmidt, Klaus M., 1993.
"Reputation and Equilibrium Characterization in Repeated Games with Conflicting Interests,"
Munich Reprints in Economics
3395, University of Munich, Department of Economics.
- Schmidt, Klaus M, 1993. "Reputation and Equilibrium Characterization in Repeated Games with Conflicting Interests," Econometrica, Econometric Society, vol. 61(2), pages 325-351, March.
- Schmidt, K.M., 1992. "Reputation and Equilibrium Characterization in Repeated Games with Conflicting Interests," Working papers 92-7, Massachusetts Institute of Technology (MIT), Department of Economics.
- 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.
- Kreps, David M. & Wilson, Robert, 1982.
"Reputation and imperfect information,"
Journal of Economic Theory,
Elsevier, vol. 27(2), pages 253-279, August.
- Paul Milgrom & John Roberts, 1997.
"Predation, reputation , and entry deterrence,"
Levine's Working Paper Archive
1460, David K. Levine.
- Radner, Roy, 1981. "Monitoring Cooperative Agreements in a Repeated Principal-Agent Relationship," Econometrica, Econometric Society, vol. 49(5), pages 1127-1148, September.
- Marco Celentani, 1996.
"Reputation with observed actions (*),"
Springer;Society for the Advancement of Economic Theory (SAET), vol. 7(3), pages 407-419.
When requesting a correction, please mention this item's handle: RePEc:ecm:emetrp:v:64:y:1996:i:3:p:691-704. 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: (Wiley-Blackwell Digital Licensing)or (Christopher F. Baum)
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.