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A Note on "Renegotiation in Repeated Games" [Games Econ. Behav. 1 (1989) 327–360]

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  • Günther, Michael

    (Center for Mathematical Economics, Bielefeld University)

Abstract

In Farrell and Maskin (1989), the authors present sufficient conditions for weakly renegotiation-proof payoffs in their Theorem 1 (p. 332). We show that a step in the proof of this theorem is not correct by giving a counterexample. Nevertheless, the sufficient conditions remain true, and we offer a correction of the proof.

Suggested Citation

  • Günther, Michael, 2017. "A Note on "Renegotiation in Repeated Games" [Games Econ. Behav. 1 (1989) 327–360]," Center for Mathematical Economics Working Papers 572, Center for Mathematical Economics, Bielefeld University.
    • Handle: RePEc:bie:wpaper:572
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    File URL: https://pub.uni-bielefeld.de/download/2910274/2910275
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    References listed on IDEAS

    as
    1. Farrell, Joseph & Maskin, Eric, 1989. "Renegotiation in repeated games," Games and Economic Behavior, Elsevier, vol. 1(4), pages 327-360, December.
    2. Evans, Robert & Maskin, Eric, 1989. "Efficient renegotiation--proof equilibria in repeated games," Games and Economic Behavior, Elsevier, vol. 1(4), pages 361-369, December.
    3. Fudenberg, Drew & Maskin, Eric, 1991. "On the dispensability of public randomization in discounted repeated games," Journal of Economic Theory, Elsevier, vol. 53(2), pages 428-438, April.
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    Keywords

    (Weak) Renegotiation-Proofness; Infinitely Repeated Games;

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