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Social Norms and Choice: A Weak Folk Theorem for Repeated Matching Games

  • Hasker, Kevin

    (Rice U)

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    A folk theorem for repeated matching games is established that holds if the stage game is not a pure coordination game. It holds independent of population size and for all matching rules-including rules that depend on players choices or the history of play. This paper also establishes an equilibrium condition and using this discovers two differences between the equilibria of repeated matching games and standard repeated games. Trigger strategies are not equilibria and there is no simple optimal penal code.

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    File URL: http://www.ruf.rice.edu/~econ/papers/2000papers/10Hasker.pdf
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    Paper provided by Rice University, Department of Economics in its series Working Papers with number 2000-10.

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    Date of creation: Nov 2000
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    Handle: RePEc:ecl:riceco:2000-10
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    1. Michi Kandori, 2010. "Social Norms and Community Enforcement," Levine's Working Paper Archive 630, David K. Levine.
    2. Greif, Avner, 1994. "Cultural Beliefs and the Organization of Society: A Historical and Theoretical Reflection on Collectivist and Individualist Societies," Journal of Political Economy, University of Chicago Press, vol. 102(5), pages 912-50, October.
    3. FORGES, Françoise, . "Universal mechanisms," CORE Discussion Papers RP -914, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
    4. Friedman, James W, 1971. "A Non-cooperative Equilibrium for Supergames," Review of Economic Studies, Wiley Blackwell, vol. 38(113), pages 1-12, January.
    5. Okuno-Fujiwara Masahiro & Postlewaite Andrew, 1995. "Social Norms and Random Matching Games," Games and Economic Behavior, Elsevier, vol. 9(1), pages 79-109, April.
    6. Ellison, Glenn, 1994. "Cooperation in the Prisoner's Dilemma with Anonymous Random Matching," Review of Economic Studies, Wiley Blackwell, vol. 61(3), pages 567-88, July.
    7. Greif, Avner, 1989. "Reputation and Coalitions in Medieval Trade: Evidence on the Maghribi Traders," The Journal of Economic History, Cambridge University Press, vol. 49(04), pages 857-882, December.
    8. 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.
    9. Udry, Christopher, 1994. "Risk and Insurance in a Rural Credit Market: An Empirical Investigation in Northern Nigeria," Review of Economic Studies, Wiley Blackwell, vol. 61(3), pages 495-526, July.
    10. Rosenthal, R W, 1979. "Sequences of Games with Varying Opponents," Econometrica, Econometric Society, vol. 47(6), pages 1353-66, November.
    11. Michihiro Kandori & Hitoshi Matsushima, 1998. "Private Observation, Communication and Collusion," Econometrica, Econometric Society, vol. 66(3), pages 627-652, May.
    12. Abreu, D. & Dutta, P.K. & Smith, L., 1993. "The Folk Theorem for Repeated Games," Working papers 93-19, Massachusetts Institute of Technology (MIT), Department of Economics.
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