The folk theorem with imperfect public information in continuous time

Christoph Frei, Benjamin Bernard

We prove a folk theorem for multiplayer games in continuous time when players observe a public signal distorted by Brownian noise. The proof is based on a rigorous foundation for such continuous-time multiplayer games. We study in detail the relation between behaviour and mixed strategies, and the role of public randomization to move continuously across games within the same model.

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Year of publication:	May 2016
Authors:	Bernard, Benjamin ; Frei, Christoph
Published in:	Theoretical economics : TE ; an open access journal in economic theory. - Toronto : [Verlag nicht ermittelbar], ISSN 1555-7561, ZDB-ID 2220447-7. - Vol. 11.2016, 2, p. 411-453
Subject:	Folk theorem \| repeated games \| continuous time \| imperfect observability \| Wiederholte Spiele \| Repeated games \| Unvollkommene Information \| Incomplete information \| Folk-Theorem \| Spieltheorie \| Game theory