Reputation in Long-Run Relationships
We model a long-run relationship as an infinitely repeated game played by two equally patient agents. In each period, the agents play an extensive-form game of perfect information. There is incomplete information about the type of player 1 while player 2’s type is commonly known. We show that a sufficiently patient player 1 can leverage player 2’s uncertainty about his type to secure his highest payoff in any perfect Bayesian equilibrium of the repeated game.
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- Michihiro Kandori & Ichiro Obara, 2003.
"Less is More: An Observability Paradox in Repeated Gamess,"
CIRJE-F-246, CIRJE, Faculty of Economics, University of Tokyo.
- Michihiro Kandori & Ichiro Obara, 2006. "Less is more: an observability paradox in repeated games," International Journal of Game Theory, Springer, vol. 34(4), pages 475-493, November.
- Michihiro Kandori & Ichiro Obara, 2006. "Less is more: An Observability Paradox in Repeated Games," Levine's Bibliography 321307000000000342, UCLA Department of Economics.
- Thomas Wiseman, 2006.
"Reputation and Impermanent Types,"
2006 Meeting Papers
650, Society for Economic Dynamics.
- Martin W. Cripps & George J. Mailath & Larry Samuelson, 2004.
"Imperfect Monitoring and Impermanent Reputations,"
Econometric Society, vol. 72(2), pages 407-432, 03.
- Martin Cripps & George J Mailath & Larry Samuelson, 2010. "Imperfect Monitoring and Impermanent Reputations," Levine's Working Paper Archive 618897000000000060, David K. Levine.
- Cripps,M.W. & Mailath,G.J. & Samuelson,L., 2002. "Imperfect monitoring and impermanent reputations," Working papers 17, Wisconsin Madison - Social Systems.
- Martin W. Cripps & George J. Mailath & Larry Samuelson, 2002. "Imperfect Monitoring and Impermanent Reputations," PIER Working Paper Archive 03-016, Penn Institute for Economic Research, Department of Economics, University of Pennsylvania, revised 30 May 2003.
- Liu, Qingmin & Skrzypacz, Andrzej, 2009. "Limited Records and Reputation," Research Papers 2030, Stanford University, Graduate School of Business.
- repec:bla:restud:v:59:y:1992:i:3:p:581-93 is not listed on IDEAS
- Heski Bar-Isaac, 2003.
"Reputation and Survival: Learning in a Dynamic Signalling Model,"
Review of Economic Studies,
Oxford University Press, vol. 70(2), pages 231-251.
- Heski Bar-Isaac, 2003. "Reputation and Survival: Learning in a Dynamic Signalling Model," Review of Economic Studies, Oxford University Press, vol. 70(2), pages 231-251.
- Bakos, Yannis & Dellarocas, Chrysanthos, 2003. "Cooperation Without Enforcement? A comparative analysis of litigation and online reputation as quality assurance mechanisms," Working papers 4295-03, Massachusetts Institute of Technology (MIT), Sloan School of Management.
- Christopher Phelan, 2001. "Public trust and government betrayal," Staff Report 283, Federal Reserve Bank of Minneapolis.
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