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Coordination Failure in Repeated Games with Almost-Public Monitoring

  • Stephen Morris
  • George J Mailath

    ()

    (Department of Economics University of Pennsylvania)

Some private-monitoring games, that is, games with no public histories, can have histories that are almost public. These games are the natural result of perturbing public-monitoring games towards private monitoring. We explore the extent to which it is possible to coordinate continuation play in such games. It is always possible to coordinate continuation play by requiring behavior to have bounded recall (i.e., there is a bound L such that in any period, the last L signals are sufficient to determine behavior). We show that, in games with general almost-public private monitoring, this is essentially the only behavior that can coordinate continuation play.

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Paper provided by Society for Economic Dynamics in its series 2005 Meeting Papers with number 25.

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Date of creation: 2005
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Handle: RePEc:red:sed005:25
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Society for Economic Dynamics Marina Azzimonti Department of Economics Stonybrook University 10 Nicolls Road Stonybrook NY 11790 USA

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  1. V Bhaskar & George J. Mailath & Stephen Morris, 2006. "Purification in the Infinitely Repeated Prisoner's Dilemma," Levine's Bibliography 321307000000000170, UCLA Department of Economics.
  2. George J Mailath & Stephen Morris, 2001. "Repeated Games with Almost-Public Monitoring," Levine's Working Paper Archive 625018000000000257, David K. Levine.
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  14. Richard McLean & Ichiro Obara & Andrew Postlewaite, 2001. "Informational Smallness and Private Monitoring in Repeated Games," PIER Working Paper Archive 05-024, Penn Institute for Economic Research, Department of Economics, University of Pennsylvania, revised 20 Jul 2005.
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  17. Mailath, George J. & Samuelson, Larry, 2006. "Repeated Games and Reputations: Long-Run Relationships," OUP Catalogue, Oxford University Press, number 9780195300796, May.
  18. Monderer, Dov & Samet, Dov, 1989. "Approximating common knowledge with common beliefs," Games and Economic Behavior, Elsevier, vol. 1(2), pages 170-190, June.
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