We explore the consequences of the assumptions used in modern cryptographywhen applied to repeated games with public communication. Technically speaking, we model agents by polynomial Turing machinesand assume the existence of a trapdoor function. Under these conditions, we prove a Folk Theorem...

This work examines then computational cost of processing the information required by Bayesian updating of beliefs. The standard statistical approach adopted by economists, restricted to the exponential family, ignores thesecomputational aspects. To fill this lacuna, two models of...