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Correlation in Repeated Games with Public Monitoring


  • Pavlo Prokopovych

    () (Kyiv School of Economics and Kyiv Economics Institute)


This paper studies correlation in discounted infinitely repeated games with public monitoring. Two extensions of the perfect public equilibrium are proposed: the public correlated equilibrium, where a correlation device sends private correlated messages to the players at the beginning of each period, and the public augmented equilibrium, where the device also publicly informs the players of the recommended action profile at the end of each period. The set of public correlated equilibrium payoffs is compared to the set of subgame perfect publicly correlated equilibrium payoffs in the perfect monitoring case. It is shown that augmented correlation produces efficiency gains in the repeated partnership game by Radner et al. (1986).

Suggested Citation

  • Pavlo Prokopovych, 2008. "Correlation in Repeated Games with Public Monitoring," Discussion Papers 14, Kyiv School of Economics, revised Feb 2009.
  • Handle: RePEc:kse:dpaper:14 Note: Under review in International Journal of Game Theory

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    References listed on IDEAS

    1. Yevgenia Apartsin & Ron Holzman, 2003. "The core and the bargaining set in glove-market games," International Journal of Game Theory, Springer;Game Theory Society, vol. 32(2), pages 189-204, December.
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    4. Vincent Feltkamp & Javier Arin, 1997. "The Nucleolus and Kernel of Veto-Rich Transferable Utility Games," International Journal of Game Theory, Springer;Game Theory Society, vol. 26(1), pages 61-73.
    5. Bezalel Peleg & Peter Sudholter, 2004. "Bargaining Sets of Voting Games," Discussion Paper Series dp376, The Federmann Center for the Study of Rationality, the Hebrew University, Jerusalem.
    6. Toru Hokari, 2000. "note: The nucleolus is not aggregate-monotonic on the domain of convex games," International Journal of Game Theory, Springer;Game Theory Society, vol. 29(1), pages 133-137.
    7. Potters, J.A.M. & Poos, R. & Tijs, S.H. & Muto, S., 1989. "Clan games," Other publications TiSEM 1855e4e3-7392-4ef0-a073-8, Tilburg University, School of Economics and Management.
    8. Maschler, Michael, 1992. "The bargaining set, kernel, and nucleolus," Handbook of Game Theory with Economic Applications,in: R.J. Aumann & S. Hart (ed.), Handbook of Game Theory with Economic Applications, edition 1, volume 1, chapter 18, pages 591-667 Elsevier.
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    More about this item


    Repeated Games; Extensive form correlation; Efficiency; Imperfect public monitoring; Perfect monitoring;

    JEL classification:

    • C72 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Noncooperative Games
    • C73 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Stochastic and Dynamic Games; Evolutionary Games


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