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Purification in the Infinitely-Repeated Prisoners' Dilemma

  • V.V. Bhaskar

receives a private payoff shock which is independently and identically distributed across players and periods. We focus on the purifiability of a class of one-period memory mixed strategy equilibria used by \cite{ElyValimaki02} in their study of the repeated prisoners' dilemma with private monitoring. We find that all such strategy profiles are not the limit of one-period memory equilibrium strategy profiles of the perturbed game, for almost all noise distributions. However, if we allow infinite memory strategies in the perturbed game, then any completely-mixed equilibrium is purifiable.

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Paper provided by Society for Economic Dynamics in its series 2007 Meeting Papers with number 136.

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Date of creation: 2007
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Handle: RePEc:red:sed007:136
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  1. V. Bhaskar & George J. Mailath & Stephen Morris, 2006. "Purification in the Infinitely-Repeated Prisoners' Dilemma," Cowles Foundation Discussion Papers 1571, Cowles Foundation for Research in Economics, Yale University.
  2. van Damme, E.E.C. & Bhaskar, V., 1997. "Moral hazard and private monitoring," Discussion Paper 1997-98, Tilburg University, Center for Economic Research.
  3. Jeffrey Ely, 2000. "A Robust Folk Theorem for the Prisoners' Dilemma," Econometric Society World Congress 2000 Contributed Papers 0210, Econometric Society.
  4. Govindan, Srihari & Reny, Philip J. & Robson, Arthur J., 2003. "A short proof of Harsanyi's purification theorem," Games and Economic Behavior, Elsevier, vol. 45(2), pages 369-374, November.
  5. Bhaskar, V., 1994. "Informational Constraints and the Overlapping Generations Model: Folk and Anti-Folk Theorems," Papers 9485, Tilburg - Center for Economic Research.
  6. Jeffrey C. Ely & Johannes Hörner & Wojciech Olszewski, 2005. "Belief-Free Equilibria in Repeated Games," Econometrica, Econometric Society, vol. 73(2), pages 377-415, 03.
  7. V. Bhaskar & Ichiro Obara, . "Belief-Based Equilibria in the Repeated Prisoners' Dilemma with Private Monitoring," Penn CARESS Working Papers d93eb6f40c65728f9e1a7b114, Penn Economics Department.
  8. Piccione, Michele, 2002. "The Repeated Prisoner's Dilemma with Imperfect Private Monitoring," Journal of Economic Theory, Elsevier, vol. 102(1), pages 70-83, January.
  9. repec:ner:tilbur:urn:nbn:nl:ui:12-88790 is not listed on IDEAS
  10. Michihiro Kandori & Ichiro Obara, 2004. "Efficiency in Repeated Games Revisited: The Role of Private Strategies," Levine's Bibliography 122247000000000055, UCLA Department of Economics.
  11. Mailath, George J. & Samuelson, Larry, 2006. "Repeated Games and Reputations: Long-Run Relationships," OUP Catalogue, Oxford University Press, number 9780195300796, March.
  12. Sekiguchi, Tadashi, 1997. "Efficiency in Repeated Prisoner's Dilemma with Private Monitoring," Journal of Economic Theory, Elsevier, vol. 76(2), pages 345-361, October.
  13. Stephen Morris, 2006. "Purification," Levine's Bibliography 321307000000000470, UCLA Department of Economics.
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