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Reputation with Observed Actions

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  • Celentani, Marco

Abstract

A single long-run player plays a fixed-stage game (simultaneous or sequential move) against an infinite sequence of short-run opponents that play only once but can observe all past realized actions. Assuming that the probability distributions over types of long- and short-run players have full support, we show that the long-run player can always establish a reputation for the Stackelberg strategy and is therefore guaranteed almost his Stackelberg payoff in all Nash equilibria of the repeated game.

Suggested Citation

  • Celentani, Marco, 1996. "Reputation with Observed Actions," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 7(3), pages 407-419, April.
    • Handle: RePEc:spr:joecth:v:7:y:1996:i:3:p:407-19
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    Cited by:

    1. Drew Fudenberg & David Levine & Wolfgang Pesendorfer, 2008. "When Are Nonanonymous Players Negligible?," World Scientific Book Chapters, in: Drew Fudenberg & David K Levine (ed.), A Long-Run Collaboration On Long-Run Games, chapter 6, pages 95-120, World Scientific Publishing Co. Pte. Ltd..
    2. Sorin, Sylvain, 1999. "Merging, Reputation, and Repeated Games with Incomplete Information," Games and Economic Behavior, Elsevier, vol. 29(1-2), pages 274-308, October.
    3. Melkonian, Tigran A., 1998. "Two essays on reputation effects in economic models," ISU General Staff Papers 1998010108000012873, Iowa State University, Department of Economics.
    4. Marco Celentani & Drew Fudenberg & David K. Levine & Wolfgang Pesendorfer, 2008. "Maintaining A Reputation Against A Long-Lived Opponent," World Scientific Book Chapters, in: Drew Fudenberg & David K Levine (ed.), A Long-Run Collaboration On Long-Run Games, chapter 9, pages 163-176, World Scientific Publishing Co. Pte. Ltd..

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