Equal Pay for all Prisoners/ The Logic of Contrition
This report deals with two questions concerning the emergence of cooperative strategies in repeated games. The first part is concerned with the Perfect Folk Theorem and presents a vast class of equilibrium solutions based on Markovian strategies. Simple strategies, called equalizers, are introduced and discussed: if players adopt such strategies, the same payoff results for every opponent. The second part analyzes strategies implemented by finite automata. Such strategies are relevant in an evolutionary context; an important instance is called Contrite Tit For Tat. In populations of players adopting such strategies, Contrite Tit For Tat survives very well- at least as long as errors are restricted to mistakes in implementation ('the trembling hand'). However, this cooperative strategy cannot persist if mistakes in perception are included as well.
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- Young, H Peyton, 1993. "The Evolution of Conventions," Econometrica, Econometric Society, vol. 61(1), pages 57-84, January.
- Binmore, K. & Samuelson, L., 1990.
"Evolutionary Stability In Repeated Games Played By Finite Automata,"
90-29, Wisconsin Madison - Social Systems.
- Binmore, K. & Samuelson, L., 1991. "Evolutionary Stability in Repeated Game Played by Finite Automata," Papers 9131, Tilburg - Center for Economic Research.
- Binmore, K. & Samuelson, L., 1991. "Evolutionary Stability in Repeated games Played by Finite Automata," Papers 90-17, Michigan - Center for Research on Economic & Social Theory.
- Jonathan Bendor & Roderick M. Kramer & Suzanne Stout, 1991. "When in Doubt..," Journal of Conflict Resolution, Peace Science Society (International), vol. 35(4), pages 691-719, December.
- Binmore, Kenneth G. & Samuelson, Larry, 1992. "Evolutionary stability in repeated games played by finite automata," Journal of Economic Theory, Elsevier, vol. 57(2), pages 278-305, August.
- Jonathan Bendor, 1993. "Uncertainty and the Evolution of Cooperation," Journal of Conflict Resolution, Peace Science Society (International), vol. 37(4), pages 709-734, December.
- Fudenberg, Drew & Maskin, Eric, 1990. "Evolution and Cooperation in Noisy Repeated Games," American Economic Review, American Economic Association, vol. 80(2), pages 274-279, May.Full references (including those not matched with items on IDEAS)
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