Voluntarily Separable Repeated Games with Social Norms
We extend the voluntarily separable repeated Prisoner's Dilemma (Fujiwara-Greve and Okuno-Fujiwara, 2009) to continuous actions. We show that there is a (constrained) efficient bimorphic equilibrium which is robust under evolutionary pressure. It consists of a cooperative strategy and a myopic defection strategy so that our model provides a foundation to incomplete information models as well.
|Date of creation:||Feb 2010|
|Date of revision:|
|Contact details of provider:|| Postal: |
Web page: http://www.cirje.e.u-tokyo.ac.jp/index.html
More information through EDIRC
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Takako Fujiwara-Greve & Masahiro Okuno-Fujiwara, 2009.
"Voluntarily Separable Repeated Prisoner's Dilemma,"
Review of Economic Studies,
Oxford University Press, vol. 76(3), pages 993-1021.
- Okuno-Fujiwara, Masahiro, 1987. "Monitoring cost, agency relationships, and equilibrium modes of labor contracts," Journal of the Japanese and International Economies, Elsevier, vol. 1(2), pages 147-167, June.
- Rafael Rob & Huanxing Yang, 2006.
"Long Term Relationships as Safeguards,"
Levine's Working Paper Archive
618897000000001039, David K. Levine.
- Swinkels, J., 1991.
"Evolutionary Stability with Equilibrium Entrants,"
9, Stanford - Institute for Thoretical Economics.
- Shapiro, Carl & Stiglitz, Joseph E, 1984. "Equilibrium Unemployment as a Worker Discipline Device," American Economic Review, American Economic Association, vol. 74(3), pages 433-44, June.
- Matsui, Akihiko, 1991. "Cheap-talk and cooperation in a society," Journal of Economic Theory, Elsevier, vol. 54(2), pages 245-258, August.
- Kranton, Rachel E, 1996. "Reciprocal Exchange: A Self-Sustaining System," American Economic Review, American Economic Association, vol. 86(4), pages 830-51, September.
- Kranton, Rachel E, 1996. "The Formation of Cooperative Relationships," Journal of Law, Economics and Organization, Oxford University Press, vol. 12(1), pages 214-33, April.
When requesting a correction, please mention this item's handle: RePEc:tky:fseres:2010cf715. 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: (CIRJE administrative office)
If references are entirely missing, you can add them using this form.