Showing 1 - 2 of 2
A fundamental non-stationarity of infinitely repeated games as usually studied is that the length of the history of play gets longer each period. With private actions (and mixed strategies) or private signals, this introduces a particular difficulty with common solution concepts such as...
Persistent link: https://www.econbiz.de/10005051213
We show that the ways incentives can be provided during dynamic interaction depend very crucially on the manner in which players learn information. This conclusion is established in a general stationary environment with noisy public monitoring and frequent actions. The monitoring process can be...
Persistent link: https://www.econbiz.de/10005051223