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Delayed perfect monitoring in repeated games

  • Markus Kinateder


Delayed perfect monitoring in an infinitely repeated discounted game is studied. A player perfectly observes any other player’s action choice with a fixed and finite delay. The observational delays between different pairs of players are heterogeneous and asymmetric. The Folk theorem extends to this setup. As is shown for an example, for a range of discount factors, the set of perfect public equilibria is reduced under certain conditions and efficiency improves when the players take into account private information. This model applies to many situations in which there is a heterogeneous delay between information generation and the players’ reaction. Copyright Springer-Verlag Berlin Heidelberg 2013

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Article provided by Springer in its journal International Journal of Game Theory.

Volume (Year): 42 (2013)
Issue (Month): 1 (February)
Pages: 283-294

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Handle: RePEc:spr:jogath:v:42:y:2013:i:1:p:283-294
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  1. Fudenberg, Drew & Levine, David I & Maskin, Eric, 1994. "The Folk Theorem with Imperfect Public Information," Econometrica, Econometric Society, vol. 62(5), pages 997-1039, September.
  2. Kandori, Michihiro, 2002. "Introduction to Repeated Games with Private Monitoring," Journal of Economic Theory, Elsevier, vol. 102(1), pages 1-15, January.
  3. Fudenberg, Drew & Maskin, Eric, 1986. "The Folk Theorem in Repeated Games with Discounting or with Incomplete Information," Econometrica, Econometric Society, vol. 54(3), pages 533-54, May.
  4. Kandori, Michihiro, 1992. "Social Norms and Community Enforcement," Review of Economic Studies, Wiley Blackwell, vol. 59(1), pages 63-80, January.
  5. Drew Fudenberg & David K. Levine & Satoru Takahashi, 2004. "Perfect Public Equilibrium When Players Are Patient," Harvard Institute of Economic Research Working Papers 2051, Harvard - Institute of Economic Research.
  6. Markus Kinateder, 2010. "The Repeated Prisoner's Dilemma in a Network," Faculty Working Papers 08/10, School of Economics and Business Administration, University of Navarra.
  7. Abreu, Dilip & Dutta, Prajit K & Smith, Lones, 1994. "The Folk Theorem for Repeated Games: A NEU Condition," Econometrica, Econometric Society, vol. 62(4), pages 939-48, July.
  8. Markus Kinateder, 2008. "Repeated Games Played in a Network," Working Papers 2008.22, Fondazione Eni Enrico Mattei.
  9. Glen Ellison, 2010. "Cooperation in the Prisoner's Dilemma with Anonymous Random Matching," Levine's Working Paper Archive 631, David K. Levine.
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