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Coordination failure in repeated games with almost-public monitoring

  • Mailath, George J.

    ()

    (University of Pennsylvania)

  • Morris, Stephen

    ()

    (Princeton University)

Some private-monitoring games, that is, games with no public histories, can have histories that are almost public. These games are the natural result of perturbing public monitoring games towards private monitoring. We explore the extent to which it is possible to coordinate continuation play in such games. It is always possible to coordinate continuation play by requiring behavior to have bounded recall (i.e., there is a bound L such that in any period, the last L signals are sufficient to determine behavior). We show that, in games with general almost-public private monitoring, this is essentially the only behavior that can coordinate continuation play.

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Article provided by Econometric Society in its journal Theoretical Economics.

Volume (Year): 1 (2006)
Issue (Month): 3 (September)
Pages: 311-340

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Handle: RePEc:the:publsh:167
Contact details of provider: Web page: http://econtheory.org

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  9. V. Bhaskar & George J. Mailath & Stephen Morris, 2004. "Purification in the Infinitely-Repeated Prisoners' Dilemma," Cowles Foundation Discussion Papers 1451, Cowles Foundation for Research in Economics, Yale University.
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  18. Mailath, George J. & Samuelson, Larry, 2006. "Repeated Games and Reputations: Long-Run Relationships," OUP Catalogue, Oxford University Press, number 9780195300796, March.
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