Athey, Susan; Bagwell, Kyle; Sanchirico, Chris - In: Review of Economic Studies 71 (2004) 2, pp. 317-349
We consider an infinitely repeated Bertrand game, in which prices are publicly observed and each firm receives a privately observed, i.i.d. cost shock in each period. We focus on symmetric perfect public equilibria, wherein any "punishments" are borne equally by all firms. We identify a tradeoff...
