Reputation and Equilibrium Characterization in Repeated Games with Conflicting Interests
A two-person game is of conflicting interests if the strategy to which player one would most like to commit herself holds player two down to his minimax payoff. Suppose there is a positive prior probability that player one is a "commitme nt type" who will always play this strategy. Then player one will get a t least her commitment payoff in any Nash equilibrium of the repeated game if her discount factor approaches one. This result is robust against further perturbations of the informational structure and in striking contrast to the message of the Folk theorem for games with incomplete information. Copyright 1993 by The Econometric Society.
(This abstract was borrowed from another version of this item.)
1. Check below under "Related research" whether another version of this item is available online.
2. Check on the provider's web page whether it is in fact available.
3. Perform a search for a similarly titled item that would be available.
|Date of creation:||1992|
|Date of revision:|
|Contact details of provider:|| Postal: |
Phone: (617) 253-3361
Fax: (617) 253-1330
Web page: http://econ-www.mit.edu/
More information through EDIRC
|Order Information:|| Postal: MASSACHUSETTS INSTITUTE OF TECHNOLOGY (MIT), DEPARTMENT OF ECONOMICS, 50 MEMORIAL DRIVE CAMBRIDGE MASSACHUSETTS 02142 USA|
When requesting a correction, please mention this item's handle: RePEc:mit:worpap:92-7. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Linda Woodbury)
If references are entirely missing, you can add them using this form.